natgillin/translations-raw huggingface dataset:
In addition, PLN 53 million was allocated to bringing forward investments originally planned for after 2006 (this 219 + 53 million add up, together with 10 % financing costs (i.e. 27 million), to 299 million).
Poleg tega je bilo odobrenih 53 milijonov PLN za pospešitev naložb, ki so bile prvotno načrtovane po letu 2006 (teh 219 + 53 milijonov skupaj z 10-odstotnimi stroški financiranja (tj. 27 milijonov) znaša 299 milijonov).
Consequently, of the total funds of [PLN 150-220 million] planned for investments, at least PLN […] million (i.e. PLN […] million — PLN 53 million) should be included in the PLN 219 million.
Iz tega izhaja, da je treba od skupnih sredstev v višini [150–220 milijonov PLN], načrtovanih za naložbe, v 219 milijonov PLN vključiti vsaj […] milijonov PLN (tj. […] milijonov PLN – 53 milijonov PLN).
The remaining amount of PLN […] million (PLN 219 million — PLN […] million) must therefore have been the costs of short-term financial restructuring.
Preostali znesek v višini […] milijonov PLN (219 milijonov PLN – […] milijonov PLN) je tako moral biti sestavljen iz stroškov kratkoročnega finančnega prestrukturiranja.
Environmental restructuring
Okoljsko prestrukturiranje
The 2003 IBP (point 4.9) also included a separate environment-related investment programme which consisted of implementation of an environmental management system in accordance with ISO 14001 (PLN 0,5 million), a number of investments under the umbrella of a land reclamation project with costs of PLN 50 million and modernisation of the power engineering department (for which no funds were allocated).
Načrt IPN iz leta 2003 (točka 4.9) je vključeval tudi ločen program naložb v zvezi z okoljem, ki je bil sestavljen iz izvajanja sistema okoljskega upravljanja po standardu ISO 14001 (0,5 milijona PLN), več naložb pod okriljem projekta melioracije zemljišč s stroški v višini 50 milijonov PLN in posodobitev energetskega oddelka (za kar niso bila odobrena nobena sredstva).
The measures were to be commenced in 2002.
Ukrepi naj bi se začeli izvajati leta 2002.
The investigation indicated that some but not all of the measures indicated in the 2003 IBP were implemented according to the time schedule.
Preiskava je pokazala, da so se nekateri – vendar ne vsi – ukrepi iz načrta IPN iz leta 2003 izvajali v skladu s časovnim načrtom.
In particular, the construction of a scrap-processing plant was postponed to 2007-08, and was not underway until summer 2007.
Zlasti izgradnja obrata za predelavo starega železa je bila odložena na leti 2007/2008 in se do poletja 2007 še ni začela izvajati.
Moreover the construction of a discard-processing plant was abandoned as the discard processing is run by a subcontractor [13], which is a more cost-efficient solution.
Poleg tega je bila opuščena izgradnja obrata za predelavo odrezkov ingotov, saj predelavo odrezkov izvaja podizvajalec [13], kar je cenovno najugodnejša rešitev.
However, the investigation also confirmed Poland’s claim that the costs for the environmental restructuring were not to be paid under the restructuring plan, but were to be covered from own funds, such as proceeds from the asset restructuring.
Preiskava pa je potrdila tudi trditev Poljske, da naj se stroški okoljskega prestrukturiranja ne bi plačevali na podlagi načrta prestrukturiranja, temveč bi se krili iz lastnih sredstev, kot so prihodki iz prestrukturiranja sredstev.
Financing the restructuring
Financiranje prestrukturiranja
The 2003 IBP (4.12) identifies a financing gap of PLN 300 million (see also the cash flow statement, point 5.1).
V načrtu IPN iz leta 2003 (točki 4.12) je opredeljena vrzel v financiranju v višini 300 milijonov PLN (glej tudi izkaz denarnih tokov, točka 5.1).
As no indication is given to the contrary, it can be assumed that this was the only financing required.
Ker ni podana nobena navedba, ki bi trdila nasprotno, je mogoče domnevati, da je bilo to edino potrebno financiranje.
Point 4.12 indicates that the restructuring required financing of PLN 113,6 million in 2002 and PLN 105,3 million in 2003, as well as the PLN 21,9 million financing cost of borrowing these funds.
V točki 4.12 je navedeno, da je prestrukturiranje zahtevalo finančna sredstva v višini 113,6 milijona PLN leta 2002 in 105,3 milijona PLN leta 2003 ter da so stroški financiranja, ki so nastali zaradi izposoje teh sredstev, znašali 21,9 milijona PLN.
Moreover, an additional PLN 53 million was allocated to bringing forward investments.
Poleg tega je bilo dodatnih 53 milijonov PLN odobrenih za pospešitev naložb.
However, there is no indication of what exactly the financing was needed for.
Vendar pa ni nikjer navedeno, za kaj natančno je bilo potrebno financiranje.
After 2003 no more financing seemed to be necessary.
Zdi se, da po letu 2003 ni potrebno nobeno financiranje. Družba AHW v svojem načrtu IPN iz leta 2005 pri opisovanju načrta IPN iz leta 2003 dejansko potrjuje, da „[…] se je v programu prestrukturiranja predpostavljalo, da bo sprejeta vrsta strateških in operativnih ukrepov, na podlagi katerih se pričakuje bistveno izboljšanje dobičkonosnosti dejavnosti, kar bo privedlo do finančne likvidnosti.
Indeed in its 2005 IBP AHW, when describing the 2003 IBP confirms ‘The […] Restructuring Programme assumed that series of actions of strategic and operational character would be taken, as a result of which significant improvement in the profitability of the activities was expected, and as a result, financial liquidity.
V programu prestrukturiranja je bilo sprejeto, da se bodo dejavniki finančne likvidnosti od leta 2003 začeli postopno izboljševati“.
The restructuring provided for in the IBP for which extraordinary support was required includes investment (PLN [150-220] million, including the PLN 53 million of investments brought forward), employment restructuring (PLN 4,03 million), some write off of public debt (PLN 21,5 million), some financial restructuring (PLN 81,5 million) and some financing costs for the loan (PLN 27,1 million), all totalling PLN 324,63 million.
Prestrukturiranje, predvideno v načrtu IPN, za katero je bila potrebna izredna podpora, vključuje naložbe ([150–220] milijonov PLN, vključno s 53 milijoni PLN prenesenih naložb), prestrukturiranje zaposlovanja (4,03 milijona PLN), del odpisa javnega dolga (21,5 milijona PLN), nekaj finančnega prestrukturiranja (81,5 milijona PLN) in nekaj stroškov financiranja za posojilo (27,1 milijona PLN), kar skupaj znaša 324,63 milijona PLN.
The restructuring was to be financed mainly from a State-guaranteed loan, which was intended to close a financing gap resulting from the delay of part of the asset restructuring.
Prestrukturiranje naj bi se financiralo predvsem iz posojila z državnim jamstvom, katerega namen je bil zapolniti vrzel v financiranju, ki je nastala zaradi odložitve dela prestrukturiranja sredstev.
Therefore, in order to enable the company to carry out financial restructuring and investments in 2002/03 and possibly also 2004, the company was granted the bridging loan guaranteed by the State Treasury.
Da se je družbi omogočilo izvajanje finančnega prestrukturiranja in naložb v letih 2002/2003 in po možnosti tudi v letu 2004, ji je bilo odobreno premostitveno posojilo, za katero je jamčila državna zakladnica.
The restructuring project was therefore clearly connected with a time schedule.
Projekt prestrukturiranja je bil zato jasno vezan na časovni načrt.
However, the asset restructuring was not indicated in the 2003 IBP as leading to restructuring costs.
V načrtu IPN iz leta 2003 pa ni bilo navedeno, da bo prestrukturiranje sredstev povzročilo nastanek stroškov prestrukturiranja.
It was, rather, an ongoing exercise, independent of the State aid-supported restructuring plan and clearly requiring no additional State funding.
Namesto tega je bilo to stalna dejavnost, ki ni bila odvisna od načrta prestrukturiranja, podprtega z državno pomočjo, in ki očitno ni zahtevala dodatnega državnega financiranja.
Also some measures not directly linked to restoring viability, such as the environmental measures, were financed through the asset restructuring and were, as is reiterated by Poland, thus pursued outside of the restructuring.
Tudi nekaj ukrepov, ki niso bili neposredno povezani s ponovno vzpostavitvijo rentabilnosti, kot so okoljski ukrepi, se je financiralo s prestrukturiranjem sredstev in so se, kot je ponovila Poljska, tako izvajali zunaj okvira prestrukturiranja.
Indeed, the only reason why the asset restructuring is mentioned is because it was to generate financing through the sale of the non-productive assets.
Dejansko je edini razlog omembe prestrukturiranja sredstev ta, da naj bi ustvarilo finančna sredstva s prodajo neproizvodnih sredstev.
However, the repayment of the sale and leaseback transaction is not mentioned.
Vendar pa ni omenjeno odplačilo transakcije prodaje in povratnega najema.
Out of the PLN 322 million aid (calculated as net grant equivalent) originally accepted in the NRP, AHW obtained the aid shown in the attached table submitted by Poland:
Od pomoči v višini 322 milijonov PLN (izračunane kot neto ekvivalent dotacije), ki je bila prvotno sprejeta v program NPP, je družba AHW prejela pomoč, prikazano v priloženi tabeli, ki jo je predložila Poljska:
State aid approved and received in 2002 and 2003 [14]
Odobrena in prejeta državna pomoč v letih 2002 in 2003 [14]
NRP
NPP
(in PLN 000)
(v tisoč PLN)
State aid obtained
Prejeta državna pomoč
Total 2002-03
Skupaj 2002–2003
The aid was granted for three different purposes:
Pomoč je bila odobrena za tri različne namene:
PLN 0,33 million for employment restructuring (1,5 million had originally been planned),
0,33 milijona PLN za prestrukturiranje zaposlovanja (prvotno se je načrtovalo 1,5 milijona);
PLN 20,56 million for debt write-offs (21,5 million had originally been planned), which was used for general improvement of the company’s financial situation.
20,56 milijona PLN za odpise dolga (prvotno se je načrtovalo 21,5 milijona), ki so se porabili za splošno izboljšanje finančnega položaja družbe;
guarantee of a loan of PLN 183,2 million (EUR 46,3 million; PLN 299 million had originally been planned, and approved by the Commission).
jamstvo posojila v višini 183,2 milijona PLN (46,3 milijona EUR; prvotno se je načrtovalo 299 milijonov PLN, ki jih je odobrila Komisija).
The State guarantee-supported loan was given to HLW by Bank Pekao S.A. on the basis of an agreement between HLW and the bank of 10 December 2003.
Banka Pekao S.A. je dala družbi HLW posojilo, podprto z državnim jamstvom, na podlagi pogodbe, ki sta jo družba HLW in banka sklenili 10. decembra 2003.
The loan agreement indicates that the loan has to be repaid five years after the signing of the agreement, i.e. by 10 December 2008.
V posojilni pogodbi je navedeno, da je posojilo treba odplačati pet let po podpisu pogodbe, tj. do 10. decembra 2008.
AHW had applied for the guarantee in August 2003.
Družba AHW je zaprosila za jamstvo avgusta 2003.
It was granted by a decision of the Council of Ministers of 31 December 2003 and concerned a nominal value of EUR 46,3 million, plus interest and other associated costs of up to EUR 58,3 million. The Council of Ministers decision recognised that HLW would first need the aid in order to finance investments relating to the hot rolling mill and the property purchase costs under sale and leaseback agreement, and ordered that it should be used for this purpose.
Jamstvo je bilo odobreno s sklepom Sveta ministrov z dne 31. decembra 2003 in se je nanašalo na nominalno vrednost 46,3 milijona EUR, skupaj z obrestmi in drugimi povezanimi stroški v višini do 58,3 milijona EUR. V sklepu Sveta ministrov je bilo priznano, da družba HLW najprej potrebuje pomoč za financiranje naložb, povezanih z vročo valjarno, in stroškov nakupa premoženja na podlagi pogodbe o prodaji in povratnem najemu, ter odrejeno, da je treba pomoč porabiti v ta namen.
In detail:
Podrobneje:
one part of the loan was intended for an amount of up to EUR 14600000 to finance production investments, investment connected with the rolling mill (medium) and rolling machine modernisation (cages).
del posojila je bil namenjen za znesek v višini do 14600000 EUR za financiranje proizvodnih naložb, naložbe v zvezi z valjarno (za srednje težko profilirano jeklo) in posodobitev stroja za valjanje (kletk).
the other part, for an amount of up to EUR 31430000, with which the company wanted to pay off the remaining part of the sale and leaseback agreement, was intended for debt restructuring by way of repurchase of production property (land and buildings).
drugi del za znesek v višini do 31430000 EUR, s katerim je hotela družba izplačati preostali del pogodbe o prodaji in povratnem najemu, je bil namenjen za prestrukturiranje dolga s ponovnim odkupom proizvodnega premoženja (zemljišč in zgradb).
From 24.8.2004, the company utilised EUR 31245684, and repaid it 16.9.2005.
Od 24. avgusta 2004 je družba porabila 31245684 EUR in jih odplačala 16. septembra 2005.
According to the Polish authorities and the beneficiary, the loan was used to pay off the sale and leaseback agreement of 2000.
Po navedbah poljskih organov in prejemnika pomoči se je posojilo porabilo za odplačilo pogodbe o prodaji in povratnem najemu iz leta 2000.
Altogether, the company indicated that it had paid interest amounting to EUR 1132788,35, which it paid in tranches.
Družba je navedla, da je skupaj plačala obresti v višini 1132788,35 EUR, in sicer v tranšah.
To this end it was considered that the first interest tranche, paid on 30 December 2004, should be allocated to the respective loan portions drawn, whereas from that point onwards, the interest amounts could be distributed between the respective totals.
V ta namen se je štelo, da je treba prvo tranšo obresti, plačano 30. decembra 2004, dodeliti ustreznim izkoriščenim deležem posojila, od tedaj pa bi bilo mogoče zneske obresti razdeljevati med ustrezne skupne vrednosti.
The Polish authorities submitted that this led to the following split of the interest payments:
Poljski organi so navedli, da je to povzročilo naslednjo razdelitev plačil obresti:
Interest paid
Plačane obresti
Date, interest paid
Datum, plačane obresti
Total interest
Skupaj obresti
Interest on the part of the loan used for repayment of the sale and leaseback agreement
Obresti za del posojila, uporabljen za odplačilo pogodbe o prodaji in povratnem najemu
Interest on the part of the loan used for investment
Obresti za del posojila, uporabljen za naložbe
AHW also had the following items of expenditure connected with the guaranteed loan:
Družba AHW je imela tudi naslednje postavke izdatkov, povezane z zajamčenim posojilom:
a preparation fee of EUR 270000,
pristojbino za pripravo v višini 270000 EUR;
a State Treasury fee for granting the loan guarantee of EUR 583300, paid on 30.4.2004 (1 % of the guarantee total amount of EUR 58330000, independent of the size of the loan actually granted),
pristojbino za državno zakladnico za odobritev jamstva za posojilo v višini 583300 EUR, plačano 30. aprila 2004 (1 % skupnega zneska jamstva v višini 58330000 EUR, ne glede na višino dejansko odobrenega posojila);
costs sustained by the bank for the loan contract and passed on to AHW: EU 55947.
stroške, ki so nastali banki v zvezi s posojilno pogodbo in bili preneseni na družbo AHW: 55947 EUR.
HLW’s 2003 loan application also indicates that the reduction of the loan (in relation to the amount approved under the 2003 IBP) was based on HLW’s own initiative because it had already negotiated the loan.
V prošnji za posojilo družbe HLW iz leta 2003 je prav tako navedeno, da je zmanjšanje posojila (v zvezi z zneskom, ki je bil že odobren na podlagi načrta IPN iz leta 2003) temeljilo na lastni pobudi družbe HLW, saj je že izpogajala posojilo.
However, HLW reserved the right to apply for the remaining aid under the PLN 75 million ceiling, but never did so.
Družba HLW si je kljub temu pridržala pravico do vložitve zahtevka za preostali del pomoči pod mejo 75 milijonov PLN, česar ni storila.
Implementation of the 2003 IBP
Izvajanje načrta IPN iz leta 2003
It is not disputed that the 2003 IBP was only partly implemented.
Dejstvo, da je bil načrt IPN iz leta 2003 izveden le delno, ni sporno.
Between 2002 and 2004 HLW spent only PLN 58,7 million on the restructuring.
Med letoma 2002 in 2004 je družba HLW porabila samo 58,7 milijona PLN za prestrukturiranje.
Only PLN [approximately 25 % of the total investment amount shown in Table 1] million was spent out of the PLN […] million for investment in modernisation of the hot rolling mill envisaged for 2002 to 2004.
Za naložbe v posodabljanje vroče valjarne, načrtovane za obdobje med letoma 2002 in 2004, je bilo porabljenih samo [približno 25 % skupnega zneska naložb iz tabele 1] milijonov od […] milijonov PLN. Naložbe so zadevale samo posodobitev valjarne za srednje težko profilirano jeklo, izvedene pa niso bile nobene naložbe v peči za pogrevanje v bluming valjarni ali valjarno za težko profilirano jeklo.
Investments concerned only the modernisation of the medium section mill, while no investments were made in the reheating furnaces of the blooming mill or the heavy section mill. Moreover, less than half a million out of PLN […] million was invested in the steel plant and PLN […] million in other general investments (for details see columns for 2002, 2003 and 2004 in Table 4 below).
Poleg tega je bilo manj kot milijon od […] milijonov PLN naložen v jeklarno, […] milijonov PLN pa v druge splošne naložbe (za podrobnosti glej stolpce za leta 2002, 2003 in 2004 v tabeli 4 spodaj).
The Commission has not been provided with any information as to whether financial restructuring was performed.
Komisija ni prejela nobenih informacij o tem, ali je bilo izvedeno finančno prestrukturiranje.
However, from the 2005 IBP the Commission sees that the indebtedness of HLW on 30.6.2005 was about the same as that of HLW at the end of 2001 (see point 1.8 of the 2005 IBP).
Vendar Komisija na podlagi načrta IPN iz leta 2005 opaža, da je bila zadolženost družbe HLW dne 30. junija 2005 približno enaka njeni zadolženosti konec leta 2001 (glej točko 1.8 načrta IPN iz leta 2005).
Moreover, HLW was able to achieve a positive operating result already in 2004.
Poleg tega je družba HLW dosegla pozitiven operativni rezultat že leta 2004.
Hence, the Commission assumes that the company has achieved its planned short-term financial restructuring.
Komisija zato domneva, da je družba dosegla svoje načrtovano kratkoročno finančno prestrukturiranje.
The reports of the independent consultant in charge of the monitoring confirm that HLW was not viable in 2004, at the end of 2004 or the end of 2005.
Poročila neodvisnega svetovalca, ki je bil odgovoren za spremljanje, potrjujejo, da družba HLW ni bila rentabilna v letu 2004, konec leta 2004 ali konec leta 2005.
However, AHW was viable at the end of the restructuring period (end 2006).
Družba AHW pa je bila rentabilna na koncu obdobja prestrukturiranja (konec leta 2006).
It is undisputed that the viability at the end of 2006 is due to a number of factors, which derive, apart from the partial modernisation of the rolling mill, above all from the boom in the steel sector, which had a very positive impact on the company’s turnover.
Nesporno je, da je rentabilnost na koncu leta 2006 posledica številnih dejavnikov, ki razen delne posodobitve valjarne izhajajo iz razcveta v jeklarskem sektorju, ki je imel zelo pozitiven vpliv na promet družbe.
Moreover, with the takeover of HLW by Arcelor, a strong investor, all of HLW’s liquidity problems had vanished.
Poleg tega so po tem, ko je družba Arcelor, zelo močna vlagateljica, prevzela družbo HLW, izginile vse težave z likvidnostjo družbe HLW.
However, the company was not able to substantiate its general statement that the actual use of the guarantee for refinancing purposes was a cause of the company’s achieving viability.
Vendar družba ni mogla utemeljiti svoje splošne trditve, da je dosežena rentabilnost družbe posledica dejanske uporabe jamstva za namene refinanciranja.
Changes in the 2003 IBP
Spremembe načrta IPN iz leta 2003
In 2005, the entry of a new owner resulted in a considerable change in the investment strategy.
Leta 2005 je nastop novega lastnika imel za posledico bistveno spremembo strategije naložb.
Instead of modernising the existing hot rolling mills, AHW now plans to build a new rolling mill with capacity to produce long products for construction applications.
Namesto posodobitve obstoječih vročih valjarn namerava družba AHW zdaj zgraditi novo valjarno z zmogljivostjo za proizvodnjo podaljšanih izdelkov, ki se uporabljajo v gradbeništvu.
Apparently the mill will use square 160 mm CC billets as feedstock and its production range will be carbon steel reinforcing bars, round and flat bars, light sections and square and cross sections.
Valjarna naj bi kot surovino uporabljala kvadratne 160-milimetrske palice CC, njen proizvodni asortiment pa bo vključeval palice za armiranje betona iz ogljikovega jekla, okrogle in ploščate palice, lahke profile ter profile kvadratnega in prečnega prereza.
Poland explains that this adaptation is a response to the development of the construction market, for which substantial growth is predicted for many years in the Warsaw area, which may give AHW a first-mover advantage due to its location in Warsaw.
Poljska pojasnjuje, da je ta prilagoditev odziv na razvoj gradbenega trga, za katerega se napoveduje večletna precejšnja rast na območju Varšave, ki bo lahko družbi AHW dala prednost prvega na trgu zaradi svoje lokacije v Varšavi.
The new mill will be fully operational by mid-2008 and will replace the existing hot rolling mills, in which PLN [approximately 25 % of the total investment amount shown in Table 1] million has already been invested in modernisation.
Nova valjarna bo v celoti delovala do sredine leta 2008 in bo nadomestila obstoječe vroče valjarne, v posodobitev katerih je bilo vloženih že [približno 25 % skupnega zneska naložbe iz tabele 1] milijonov PLN.
The total cost of the investment programme is summarised in the following table:
Skupni stroški programa naložb so povzeti v naslednji tabeli:
Costs for the new investment programme in the 2005 IBP
Stroški novega programa naložb v načrtu IPN iz leta 2005
In PLN 000
V tisoč PLN
Hot rolling mills
Vroče valjarne
[approximately 120 % of the total investment amount shown in Table 1]
[približno 120 % skupnega zneska naložb iz tabele 1]
[approximately 140 % of the total investment amount shown in Table 1]
[približno 140 % skupnega zneska naložb iz tabele 1]
Thus total investment costs will now be PLN [approximately 140 % of the total investment amount shown in Table 1] million, of which it is planned to allocate PLN [approximately 120 % of the total investment amount shown in Table 1] to the hot rolling mill, thus PLN […] million more than originally earmarked for investment.
Skupni stroški naložb bodo tako zdaj znašali [približno 140 % skupnega zneska naložb iz tabele 1] milijonov PLN, od katerih se načrtuje odobritev [približno 120 % skupnega zneska naložb iz tabele 1] PLN vroči valjarni, kar je […] milijonov PLN več, kot je bilo prvotno predvideno za naložbo.
However, these costs include the PLN […] million for the medium section mill already completed.
Ti stroški vključujejo […] milijonov PLN za že dokončano valjarno za srednje težko profilirano jeklo.
If these were subtracted from the PLN […] million, the cost of the new rolling mill would amount to PLN [less than 200] million.
Če bi se ta znesek odštel od […] milijonov PLN, bi stroški nove valjarne znašali [manj kot 200] milijonov PLN.
Capacity development
Razvoj zmogljivosti
The development of AHW’s capacity is illustrated in the following table:
Razvoj zmogljivosti družbe AHW je ponazorjen v naslednji tabeli:
Maximum production capacity per year in thousand tonnes
Največja proizvodna zmogljivost na leto v tisoč tonah
100 % of total mill capacity]
100 % skupne zmogljivosti valjarne)
[idem]
[enako]
No changes
Brez sprememb
by Protocol No 8
0Določeno v Protokolu št. 8
Rolling mill — wire rod
Valjarna – jeklo za žice
Stipulated by Protocol No 8
Določeno v Protokolu št. 8
strategy [16]
strategija [16]
Rolling mill forged profiles
Valjarna – kovani profili
Cold-rolled strip
Hladno valjan trak
New rolling mill
Nova valjarna