natgillin/translations-raw huggingface dataset:
The plan provides for the repayment of accumulated public debts of PLN 95,3 million and of accumulated civil liabilities of PLN […] million.
Načrt določa odplačilo nakopičenih javnih dolgov v višini 95,3 milijona PLN in nakopičenih civilnopravnih odgovornosti v višini […] milijonov PLN.
The costs of employment restructuring are expected to amount to PLN […] million.
Pričakovani stroški prestrukturiranja zaposlovanja znašajo […] milijonov PLN.
It is assumed that PLN […] million will be needed to balance the yard’s finances (coverage of past losses, provision of sufficient liquidity and capital).
Predvideva se, da bo za doseganje finančne stabilnosti ladjedelnice potrebnih […] milijonov PLN (kritje preteklih izgub, zagotavljanje zadostne likvidnosti in kapitala).
In total, restructuring costs would amount to PLN [… more than 1000] million.
Skupaj bi stroški prestrukturiranja znašali [… več kot 1000] milijonov PLN.
The plan assumes that PLN [… around 500] million will be financed from resources free of aid, i.e. own contribution.
V načrtu je predvideno, da bo [… približno 500] milijonov PLN financiranih s sredstvi brez državne pomoči, tj. z lastnim prispevkom.
This amount includes PLN 305 million in the form of a capital injection provided by ISD Polska (already registered and paid), PLN […] million from selling and leasing redundant assets and PLN […] million from an investment loan to be obtained on the market and designed to finance investments in non-shipbuilding activities.
Ta znesek vključuje 305 milijonov PLN v obliki dokapitalizacije, ki jo bo zagotovila družba ISD Polska (že evidentirana in plačana), […] milijonov PLN od prodaje odvečnih sredstev in dajanja teh sredstev v zakup ter […] milijonov PLN iz investicijskega posojila, pridobljenega na trgu in namenjenega financiranju naložb v dejavnosti, ki ne zadevajo ladjedelništva.
As regards the revenue from selling and leasing assets, the yard plans to sell its shares in Kuznia Gdańsk ([…] % of shares).
V zvezi s prihodki od prodaje sredstev in njihovega dajanja v zakup namerava ladjedelnica prodati svoje delnice v družbi Kuznia Gdańsk ([…] % delnic).
The yard has started negotiations with potential buyers and received an offer for the shares, which was taken into account in the restructuring plan.
Ladjedelnica se je začela pogajati z morebitnimi kupci, pri čemer je prejela ponudbo za delnice, ki je bila upoštevana v načrtu prestrukturiranja.
The amount offered was PLN […] million.
Ponujeni znesek je znašal […] milijonov PLN.
Furthermore, the yard plans to lease assets to neighbouring cooperating companies, with an estimated revenue (on the basis of existing lease agreements) of PLN […] million from the lease of land (2009-12) and PLN […] million from the lease of production facilities (2009-12).
Poleg tega ladjedelnica namerava dati sredstva v zakup sosednjim sodelujočim družbam, pri čemer naj bi ocenjeni prihodki (na podlagi veljavnih najemnih pogodb) od dajanja zemljišča v zakup znašali […] milijonov PLN (2009–2012), od dajanja proizvodnih zmogljivosti v zakup pa […] milijonov PLN (2009–2012).
As regards the investment loan of PLN […] million for the development of wind tower production, this business will be operated by a special-purpose company.
Investicijsko posojilo v višini […] milijonov PLN za razvoj proizvodnje vetrnih stolpov bo izvedla družba s posebnim namenom.
The banks’ undertakings to provide financing for the wind tower project are subject to fulfilment of the following conditions: a) a positive decision by the Commission regarding the 2009 Restructuring Plan for Gdańsk Shipyard, b) ISD Stocznia obtaining all the administrative permits necessary to implement the wind tower project, c) collateral in form of a mortgage on a designated area of Gdańsk Shipyard and d) a positive decision regarding financing of the project by the Bank’s lending committee and management board.
Banki bosta svoje zaveze glede zagotovitve financiranja za projekt vetrnih stolpov izpolnili, če bodo izpolnjeni naslednji pogoji: (a) pozitivna odločitev Komisije v zvezi z načrtom prestrukturiranja iz leta 2009 za ladjedelnico Gdańsk, (b) pridobitev vseh upravnih dovoljenj, ki jih družba ISD Stocznia potrebuje za izvajanje projekta vetrnih stolpov, (c) zavarovanje v obliki hipoteke na določeno ozemlje ladjedelnice Gdańsk in (d) pozitivna odločitev odbora za odobritev posojil in upravnega odbora banke v zvezi s financiranjem projekta.
One of the banks has stated that it is willing to finance up to PLN […] million and the other is prepared to provide up to PLN […] million, i.e. PLN […] million in total.
Ena od bank je navedla, da je pripravljena zagotoviti do […] milijonov PLN, medtem ko je druga pripravljena zagotoviti do […] milijonov PLN, tj. skupaj […] milijonov PLN.
In addition, the Polish authorities have submitted an agreement between the two banks and ISD Stocznia in which the banks declare that they are willing to grant a consortium credit or two parallel credits to finance the project.
Poleg tega so poljski organi predložili sporazum med obema bankama in družbo ISD Stocznia, v katerem sta banki izjavili, da sta pripravljeni odobriti kredit bančnega konzorcija ali dva vzporedna kredita za financiranje projekta.
The banks have confirmed that their financing will be provided at the prevailing market conditions without any State guarantees.
Banki sta potrdili, da bodo njuna finančna sredstva zagotovljena pod prevladujočimi tržnimi pogoji brez kakršnih koli državnih jamstev.
Financial projections
Finančne napovedi
The plan’s financial projections are based on the following assumptions, mostly derived from estimates by external experts.
Finančne napovedi iz načrta temeljijo na naslednjih predpostavkah, ki izhajajo predvsem iz ocen zunanjih strokovnjakov.
The assumptions underlying the financial projections set out in the 2009 Restructuring Plan are presented in Table 3.
Predpostavke, na katerih temeljijo finančne napovedi iz načrta prestrukturiranja iz leta 2009, so predstavljene v tabeli 3.
Assumptions underlying the financial projections set out in the 2009 Restructuring Plan
Predpostavke, na katerih temeljijo finančne napovedi iz načrta prestrukturiranja iz leta 2009
Steel prices (EUR)
Cene jekla (EUR)
Change in energy prices
Spremembe cen energije
The assumptions concerning changes in consumer prices and the annual average level of WIBOR 3M were based on the Global Insight forecast of 6 February 2009 [19].
Predpostavke v zvezi s spremembami maloprodajnih cen in letno povprečno ravnjo obrestne mere WIBOR 3M so temeljile na napovedi družbe Global Insight z dne 6. februarja 2009 [19].
As for exchange rates, the forecast was inspired by a Goldman Sachs report which predicted that the PLN would appreciate against the euro over the next four years, rising to a level of PLN/EUR 3,25.
Napoved za devizne tečaje temelji na poročilu družbe Goldman Sachs, v katerem je bilo napovedano, da se bo vrednost PLN glede na euro v naslednjih štirih letih povečala, in sicer na raven PLN/EUR 3,25.
Shipbuilding activity
Ladjedelniška dejavnost
The plan anticipates an increase in shipbuilding wages.
V načrtu je predvideno zvišanje plač v ladjedelništvu.
The financial projections are based on the assumption that shipbuilding activity, i.e. the delivery of 6 semi-equipped offshore vessels annually, will generate 30 % of the yard’s revenue.
Finančne napovedi temeljijo na predpostavki, da bo ladjedelniška dejavnost, tj. dostava 6 delno opremljenih plovil za plovbo po odprtem morju, ustvarila 30 % prihodkov ladjedelnice.
The anticipated revenue is based on the prices agreed in the existing contracts of the yard, letters of intent and other market sources.
Pričakovani prihodki temeljijo na cenah, dogovorjenih v veljavnih pogodbah ladjedelnice, pismih o nameri in drugih tržnih virih.
The plan forecasts positive cash flows as of 2009, estimating the aggregate net present value of the shipbuilding business for 2009-18, also taking into account the residual value of this investment, at PLN [… between 400 and 500] million.
V načrtu so napovedani pozitivni denarni tokovi od leta 2009, pri čemer se ocenjuje, da bo ladjedelniškega dejavnost dosegla skupno neto sedanjo vrednost [… med 400 in 500] milijonov PLN za obdobje 2009–2018, upoštevajo pa se tudi preostale vrednosti te naložbe.
The expected internal rate of return amounts to [… more than 20 %].
Pričakovana notranja stopnja donosa znaša [...več kot 20 %].
Wind tower production
Proizvodnja vetrnih stolpov
The restructuring plan assumes that production will start in 2012 with an output of […] towers, and will subsequently increase to […] towers in 2013, […] towers in 2014 and the target capacity of […] towers in 2015.
V načrtu prestrukturiranja je predvideno, da se bo proizvodnja začela leta 2012 s proizvodnjo […] stolpov, nato pa se bo povečala na […] stolpov leta 2013, […] stolpov leta 2014 in leta 2015 dosegla ciljno zmogljivost […] stolpov.
Since the materials will account for […] % of costs of wind tower production, no additional hedging policy is considered necessary for this activity.
Ker bodo materiali predstavljali […] % stroškov proizvodnje vetrnih stolpov, za to dejavnost ni potrebna nobena dodatna politika zavarovanja.
The estimated net present value of the wind tower business is PLN [… more than 200] million and the internal rate of return to [… around 20] % (for the period 2009-18).
Ocenjena neto sedanja vrednost dejavnosti proizvodnje vetrnih stolpov je [… več kot 200] milijonov PLN, notranja stopnja donosa pa znaša [… približno 20] % (za obdobje 2009–2018).
Steel structures
Jeklene konstrukcije
The plan anticipates a significant increase in revenue from the steel structure business, rising from PLN […] million in 2009 to PLN […] million in 2010, PLN […] million in 2011, PLN […] million in 2012 and around PLN […] million in the following years.
V načrtu je predvideno znatno povečanje prihodkov od dejavnosti proizvodnje jeklenih konstrukcij z […] milijonov PLN leta 2009 na […] milijonov PLN leta 2010, […] milijonov PLN leta 2011, […] milijonov PLN leta 2012 in približno […] milijonov PLN v prihodnjih letih.
Nevertheless, the plan also observes that the anticipated margins are a conservative estimate and are lower than the margins actually achieved by ISD Polska in 2008 [20].
Vendar je v načrtu tudi ugotovljeno, da pričakovane marže temeljijo na konservativni oceni in so nižje od marž, ki jih je družba ISD Polska leta 2008 dejansko dosegla [20].
The estimated net present value amounts to PLN [… around 200] million for 2009-18 and the internal rate of return to [… more than 50] % (annually).
Ocenjena neto sedanja vrednost znaša [… približno 200] milijonov PLN za obdobje 2009–2018, notranja stopnja donosa pa znaša [… več kot 50] % (letno).
The company has submitted evidence that the yard will be able to obtain the requisite materials from the ISD group at prices denominated in euro.
Družba je predložila dokaze, da bo ladjedelnica lahko pridobila potrebne materiale od skupine ISD po cenah, izraženih v eurih.
Since materials will account for […] % of costs of wind tower production, no additional hedging policy is considered necessary for this activity.
Ker bodo materiali predstavljali […] % stroškov proizvodnje vetrnih stolpov, za to dejavnost ni potrebna nobena dodatna politika zavarovanja.
Consolidated activity
Konsolidirana dejavnost
The expected pay-back period is […] years (in nominal values) and […] years in discounted terms.
Pričakovano obdobje za povračilo je […] let (v nominalnih vrednostih) in […] let v diskontiranih vrednostih.
The estimated net present value of the project as a whole is around PLN [… more than 800] million for 2009-18 and the internal rate of return is [… more than 20] %.
Ocenjena neto sedanja vrednost celotnega projekta je približno [… več kot 800] milijonov PLN za obdobje 2009–2018, notranja stopnja donosa pa znaša [… več kot 20] %.
ISD Polska indicates that these financial results are very attractive for investors.
Družba ISD Polska navaja, da so ti finančni izidi zelo privlačni za vlagatelje.
The project generates synergy for the ISD group.
Projekt ustvarja sinergijo za skupino ISD.
All three activities of Gdańsk Shipyard will create demand for Huta Częstochowa’s products.
Vse tri dejavnosti ladjedelnice Gdańsk bodo ustvarjale povpraševanje po izdelkih družbe Huta Częstochowa.
This vertical integration will allow more accurate demand forecasting at Huta Częstochowa and will also be beneficial for Gdańsk Shipyard, which will have guaranteed regular supplies, including even some prefabricates produced at Huta Częstochowa for shipbuilding.
Ta vertikalna integracija bo omogočila natančnejšo napoved povpraševanja v družbi Huta Częstochowa in bo koristila tudi ladjedelnici Gdańsk, ki bo imela zagotovljeno redno dobavo, vključno z nekaterimi predizdelanimi sestavnimi deli, ki jih družba Huta Czestochowa proizvaja za ladjedelništvo.
The 2009 Restructuring Plan comprises a sensitivity analysis scrutinising the effect of certain changes in the main assumptions underlying the 10-year EBIDTA and 10-year accumulated profits.
Načrt prestrukturiranja iz leta 2009 vključuje analizo občutljivosti, da se pregleda učinek nekaterih sprememb glavnih predpostavk, na katerih temeljita desetletni dobiček pred obrestmi, davki in amortizacijo ter desetletni nerazdeljeni dobiček.
In particular, the plan illustrates the financial consequences of the following risk factors:
V načrtu so predstavljene zlasti finančne posledice naslednjih dejavnikov tveganja:
further appreciation in the PLN to PLN 3,0 for EUR 1 in 2009-12,
dodatna rast vrednosti PLN na 3,0 PLN za 1 EUR v obdobju 2009–2012,
an additional increase in the cost of employment by 200 b.p. above the base scenario,
dodatno povečanje stroškov zaposlovanja za 200 bazičnih točk nad osnovnim scenarijem,
steel prices 10 % higher than assumed in the base scenario,
za 10 % višje cene jekla v primerjavi z osnovnim scenarijem,
lower efficiency than assumed in the base scenario.
nižja učinkovitost v primerjavi z osnovnim scenarijem.
The materialisation of any of these factors would increase the pay-back period from […] years assumed in the base scenario to […] years.
V primeru nastopa katerega koli od teh dejavnikov bi se doba povračila podaljšala z […] let, kot je predvideno v osnovnem scenariju, na […] let.
The company argues that this result indicates that the plan is not vulnerable to changing market conditions.
Družba trdi, da ta izid kaže na neobčutljivost načrta na spreminjajoče se tržne pogoje.
In all scenarios the net present value of the project remains attractive.
Neto sedanja vrednost projekta ostaja privlačna v vseh scenarijih.
In order to limit the distortion of competition created by the aid, the 2009 Restructuring Plan provides for implementation of the following measures.
Za omejitev izkrivljanja konkurence zaradi pomoči načrt prestrukturiranja iz leta 2009 določa izvajanje naslednjih ukrepov.
First, the yard will close two of the three currently used slipways, which are production assets used to launch vessels and indispensable to shipbuilding activities.
Prvič, ladjedelnica bo zaprla dve od treh operativnih površin, ki se trenutno uporabljajo pri proizvodnji za splavljenje plovil in so pomembne za ladjedelniške dejavnosti.
The yard has already terminated the lease agreement for slipway B5 (as of 1 July 2009) and for slipway B3 (as of 1 January 2010).
Ladjedelnica je že prekinila najemno pogodbo za operativno površino B5 (s 1. julijem 2009) in operativno površino B3 (s 1. januarjem 2010).
Second, the yard has undertaken not to use more than one launching facility.
Drugič, ladjedelnica se je zavezala, da ne bo uporabljala več kot enega objekta za splavljenje.
If the yard purchases or otherwise acquires access to (e.g. by renting or leasing) another launching facility, it will take slipway B1 out of the production process (i.e., as the situation stands at the time of the decision, discontinue the renting agreement with the owner of slipway B1).
Če bo ladjedelnica kupila ali drugače pridobila dostop do (npr. z najemom ali zakupom) drugega objekta za splavljenje, bo izključila operativno površino B1 iz proizvodnega postopka (tj. prekinila najemno pogodbo z lastnikom operativne površine B1 ob upoštevanju razmer v času odločitve).
Any other launching facility used by the yard will have a capacity of not more than 100000 CGT approx.
Če bo ladjedelnica uporabljala kateri koli drugi objekt za splavljenje, zmogljivost tega objekta ne sme presegati približno 100000 KBT.
Lastly, the yard has undertaken to comply with an annual production cap of 100000 CGT for 10 years following the adoption of this decision.
Nazadnje, ladjedelnica se je zavezala, da bo 10 let po sprejetju te odločbe upoštevala največji letni obseg proizvodnje 100000 KBT.
State aid granted to Gdańsk Shipyard
Državna pomoč za ladjedelnico Gdańsk
According to the Polish authorities, since 1 May 2004 Gdańsk Shipyard has received a number of State aid measures that are listed in Table 4 below (see after recital 174).
Po navedbah poljskih organov je bilo v korist ladjedelnici Gdańsk od 1. maja 2004 dodeljenih več ukrepov državne pomoči, ki so navedeni v tabeli 4 (glej tabelo za uvodno izjavo 174).
Table 4 sets out the aid granted after 1 May 2004, the date of Poland’s accession to the EU.
V tabeli 4 je navedena pomoč, dodeljena po 1. maju 2004, tj. datumu pristopa Poljske k EU.
Notification of most of these measures was given by Poland by letters of 13 July 2007 and 9 January 2008.
Poljska je večino teh ukrepov priglasila z dopisoma z dne 13. julija 2007 in 9. januarja 2008.
An updated list of these measures was attached to the 2009 Restructuring Plan (Annex 12).
Posodobljen seznam teh ukrepov je bil priložen načrtu prestrukturiranja iz leta 2009 (Priloga 12).
The list includes some of the measures described in part B of Annex I to the decision to open a formal investigation.
Seznam vključuje nekatere ukrepe, ki so opisani v delu B Priloge I k odločitvi o začetku formalnega postopka preiskave.
Poland provided additional explanations on the restructuring of liabilities under Chapter 5a.
Poljska je predložila dodatna pojasnila v zvezi s prestrukturiranjem obveznosti v skladu s poglavjem 5a.
The Polish authorities explained that the yard transferred to the Operator [21] assets corresponding to 31,6 % of the value of the liabilities transferred to the Operator ARP Sp. z o.o.
Poljski organi so pojasnili, da je ladjedelnica na subjekt [21] prenesla sredstva v višini 31,6 % vrednosti obveznosti, ki so bile prenesene na subjekt ARP Sp. z.o.o.
According to Poland, the aid element is therefore equivalent to 68,4 % of the nominal value of the liabilities transferred to the Operator.
Po navedbah Poljske je element pomoči zato enak 68,4 % nominalne vrednosti obveznosti, ki so bile prenesene na subjekt.
This nominal value is set out in Table 4 below.
Ta nominalna vrednost je določena v spodnji tabeli 4.
The guarantee provided by the Treasury and referred to as measure 16 in Table 4 below was formally granted to Gdynia Shipyard Group, but for the production of vessels at Gdańsk Shipyard.
Jamstvo, ki ga je zagotovilo finančno ministrstvo in je v tabeli 4 navedeno kot ukrep št. 16, je bilo uradno dodeljeno skupini Gdynia, vendar za proizvodnjo plovil v ladjedelnici Gdańsk.
The loan covered by the Treasury guarantee was granted at an interest rate equal to LIBOR 3M + 100 basis points, whereas the risk of default when the guarantees were issued was estimated by the Polish authorities at 60 %.
Posojilo, ki ga krije jamstvo finančnega ministrstva, je bilo odobreno pri obrestni meri, enakovredni obrestni meri LIBOR 3M + 100 bazičnih točk, pri čemer so poljski organi ocenili, da je tveganje neplačila v času izdaje jamstev znašalo 60 %.
The Treasury guarantees were granted against collateral in the form of a blank promissory note issued by the yard and a notarial deed in which the yard agreed to the enforcement of its assets up to 120 % of the value of the guarantee.
Jamstva finančnega ministrstva so bila dodeljena z zavarovanjem v obliki prazne zadolžnice, ki jo je izdala ladjedelnica, in notarske listine, v kateri se je ladjedelnica strinjala z izvrševanjem svojih sredstev do 120 % vrednosti jamstva.
The Treasury charged a premium equivalent to 0,4 % of the guaranteed amount.
Finančno ministrstvo je zaračunalo premijo, ki je bila enakovredna 0,4 % zajamčenega zneska.
However, the Commission notes that the guarantee agreement was signed on 17 August 2005, clearly after the Polish accession to the EU.
Vendar Komisija ugotavlja, da je bila garancijska pogodba podpisana 17. avgusta 2005, tj. po pristopu Poljske k EU.
Furthermore, in the annex to the 2009 Restructuring Plan, the guarantee is presented as one of the State aid measures.
Poleg tega je jamstvo v načrtu prestrukturiranja iz leta 2009 predstavljeno kot eden od ukrepov državne pomoči.
Table 4 also sets out loans granted by KPS to finance the yard’s working capital requirements.
V tabeli 4 so navedena tudi posojila, ki jih je KPS odobrila za financiranje zahtev ladjedelnice po gibljivih sredstvih.
Poland claims in its submissions of 11 July 2007 and 9 January 2008 that these loans do not constitute State aid because the interest charged corresponded to the risk assessment for the project for which the loans were sought.
Poljska je v svojih navedbah z dne 11. julija 2007 in 9. januarja 2008 trdila, da ta posojila ne pomenijo državne pomoči, ker so zaračunane obresti ustrezale oceni tveganja projekta, za katerega so bila potrebna posojila.
For the loans granted in 2005-06, KPS charged interest ranging from 9,70 % to 11,62 %.
Za posojila, odobrena v obdobju 2005–2006, je KPS zaračunala obresti v višini od 9,70 % do 11,62 %.
It also charged a one-off fee ranging from 0,1 % to 0,4 %.
Poleg tega je zaračunala enkratno pristojbino v višini od 0,1 % do 0,4 %.
According to the Polish authorities, KPS required collateral in the form of acceptance of enforcement, an agreement on cession of receivables, an unconditional payment order, a blank promissory note or asset pledges [23].
Po navedbah poljskih organov je KPS zahtevala zavarovanje v obliki sprejetja izvrševanja, soglasja o odstopu terjatev, neomejene odredbe za plačilo, prazne zadolžnice ali zastave premoženja [23].
KPS was created in 2004 as a wholly-owned subsidiary of the IDA to operate as a risk capital fund for the Agency.
KPS je bila ustanovljena leta 2004 kot hčerinska družba, ki je v celoti v lasti ARP, da bi delovala kot sklad tveganega kapitala za agencijo.
According to the Polish Government’s website, KPS was also to support shipbuilding operations in Poland by issuing bonds fully guaranteed by the IDA.
V skladu z informacijami na spletni strani poljske vlade naj bi KPS podpirala tudi ladjedelniške dejavnosti na Poljskem z izdajo obveznic, za katere v celoti jamči ARP.
Indeed, the document entitled ‘A strategy for the shipbuilding sector (maritime construction shipyards) in Poland 2006-10’ [25] confirms that KPS should generate funds by issuing debt instruments to an amount of around USD 100 million, secured on the assets earmarked for restructuring the shipbuilding industry in form of funds transferred by the Treasury to the IDA.
Dokument z naslovom „Strategija za ladjedelniški sektor (ladjedelnice za pomorske gradnje) na Poljskem med letoma 2006 in 2010“ [25] potrjuje, da naj bi KPS ustvarjala sredstva z izdajanjem dolžniških instrumentov v višini okoli 100 milijonov USD, zavarovanih s sredstvi, določenimi za prestrukturiranje ladjedelniške industrije v obliki sredstev, ki jih je finančno ministrstvo preneslo na ARP.
Gdańsk Shipyard also benefited from advanced payment guarantees from the Export Credit Insurance Corporation (hereinafter ‘advance payment guarantees’ or ‘production guarantees’).
Ladjedelnica Gdańsk je imela koristi tudi od jamstev za predplačila, ki jih je zagotovila družba Export Credit Insurance Corporation (v nadaljnjem besedilu: jamstva za predplačila ali jamstva za proizvodnjo).
In total after 1 May 2004 Gdańsk Shipyard benefitted from 20 Export Credit Insurance Corporation guarantees with a total nominal value of PLN 346372107,33.
Ladjedelnica Gdańsk je imela po 1. maju 2004 v celoti koristi od 20 jamstev družbe Export Credit Insurance Corporation s skupno nominalno vrednostjo v višini 346372107,33 PLN.