natgillin/translations-raw huggingface dataset:
By letter dated 12 December 2008, the Swedish authorities submitted observations on the third party comments and provided additional information on the basis of further input received from Volvo Aero to demonstrate that the repayable advance was crucial for Volvo Aero to enter into the GE agreement.
Švedski organi so z dopisom z dne 12. decembra 2008 predložili pripombe k pripombam tretje osebe in zagotovili dodatne informacije na podlagi nadaljnjih informacij, prejetih s strani podjetja Volvo Aero, s čimer so želeli dokazati, da je bil vračljivi predujem za podjetje Volvo Aero ključnega pomena za sklenitev sporazuma z GE.
The Swedish authorities agreed with the observations of GE and the workers unions who claim that the GEnx presented an exceptional challenge for Volvo Aero and that the R & D work is still ongoing, with related technical challenges.
Švedski organi so se strinjali s pripombami GE in sindikatov delavcev, ki trdijo, da je GEnx predstavljal izjemen izziv za Volvo Aero ter da je delo na projektu R&R še vedno v teku, prav tako pa obstajajo z njim povezani tehnični izzivi.
Besides, according to Sweden, these observations are fully consistent with the information provided by Mr Bodin, the former President and CEO of the Company, which also correctly represents the link between the negotiations with GE and the Government assurances to grant the aid.
Poleg tega so po navedbah Švedske te pripombe popolnoma skladne z informacijami, ki jih je predložil Fred Bodin, bivši predsednik in generalni direktor podjetja, kar tudi pravilno predstavlja povezavo med pogajanji z GE in zagotovili vlade za dodelitev pomoči.
Further information provided by Sweden
Nadaljnje informacije, ki jih je predložila Švedska
In response to the Commission letter dated 30 March 2009, Sweden provided further information about the intra-group funding to justify why AB Volvo has not contributed long-term funding to the GE project.
Kot odgovor na dopis Komisije z dne 30. marca 2009 je Švedska predložila nadaljnje informacije o financiranju znotraj skupine, da bi utemeljila, zakaj AB Volvo ni prispeval sredstev za dolgoročno financiranje projekta GE.
Considering that the market failure and the incentive effect could be called into question by the late formalisation of the aid, the Swedish authorities indicated their readiness to accept an amendment of the originally notified aid amount.
Glede na to, da bi pozna formalizacija pomoči lahko postavila pod vprašaj nedelovanje trga in spodbujevalni učinek, so švedski organi izrazili pripravljenost, da sprejmejo spremembo prvotno priglašenega zneska pomoči.
On 14 June 2007, the date on which the Government gave its formal agreement to grant the aid, Volvo Aero had de facto paid approx. 66,5 % of the eligible costs.
Volvo Aero je 14. junija 2007, na datum uradnega soglasja vlade za dodelitev pomoči, dejansko plačal pribl. 66,5 % upravičenih stroškov.
This is beyond its originally planned contribution of 60 %, and consequently the aid has to be reduced to approx. 33,5 % of the eligible costs, equivalent to approx. SEK 304 million (approx. EUR 33 million), compared to the SEK 362 million (approx. EUR 39 million) originally planned.
To je več od prvotno načrtovanega 60-odstotnega prispevka, zato je treba pomoč zmanjšati na pribl. 33,5 % upravičenih stroškov, kar glede na prvotno načrtovanih 362 milijonov SEK(pribl. 39 milijonov EUR) znaša pribl. 304 milijone SEK(pribl. 33 milijonov EUR).
As indicated in the decision to open proceedings, the measure under assessment falls within the scope of Article 87(1) of the Treaty.
Kot je navedeno v odločbi o sprožitvi postopka, sodi ukrep, ki se ocenjuje, na področje uporabe člena 87(1) Pogodbe.
This conclusion was not disputed by any of the parties.
Temu zaključku ni oporekala nobena stranka.
The notified measure concerns a loan granted by the Swedish National Debt Office to Volvo Aero.
Priglašeni ukrep se nanaša na posojilo, ki ga je Švedski urad za javni dolg dodelil podjetju Volvo Aero.
The resources involved are State resources, as they were made available by the Swedish Parliament and instructions for their use have been drawn up by the Swedish Government.
Uporabljena sredstva so državna sredstva, ki jih je dal na voljo švedski parlament, navodila za njihovo uporabo pa je pripravila švedska vlada.
The measure is selective as it concerns only one undertaking, Volvo Aero, which is a large enterprise involved in trade with other Member States.
Ukrep je selektiven, saj zadeva samo eno podjetje, Volvo Aero, veliko podjetje, ki posluje z drugimi državami članicami.
The measure provides an advantage to Volvo Aero, as it allows the Company to have access to resources on terms which the market is not able to provide.
Ukrep podjetju Volvo Aero zagotavlja prednost, saj mu omogoča dostop do sredstev pod pogoji, ki jih trg ne more zagotoviti.
Therefore the measure constitutes State aid according to Article 87(1) of the EC Treaty.
Zato ukrep predstavlja državno pomoč v skladu s členom 87(1) Pogodbe ES.
By notifying the measure before its implementation, the Swedish authorities have fulfilled their obligations under Article 88(3) of the EC Treaty.
Švedski organi so priglasili ukrep pred začetkom njegovega izvajanja in tako izpolnili svoje obveznosti iz člena 88(3) Pogodbe ES.
The notified measure will be implemented only after approval by the Commission, in line with Article 88(3) of the EC Treaty.
Priglašeni ukrep se bo v skladu s členom 88(3) Pogodbe ES začel izvajati šele po odobritvi Komisije.
COMPATIBILITY WITH THE SINGLE MARKET
ZDRUŽLJIVOST Z ENOTNIM TRGOM
The Commission has assessed the measure under Article 87(3)(c) of the Treaty, in particular on the basis of the provisions concerning aid for R & D — since 1 January 2007, the Community Framework for State Aid for Research, Development and Innovation [12] (the R & D&I Framework).
Komisija je ocenila ukrep v skladu s členom 87(3)(c) Pogodbe, zlasti na podlagi določb v zvezi s pomočjo za R&R Okvira Skupnosti za državno pomoč za raziskave in razvoj ter inovacije [12] (Okvir R&R&I), ki velja od 1. januarja 2007.
To assess properly an aid for a large R & D project, it is necessary to assess the objectives of the measure, notably which market failures it aims to tackle.
Da se pomoč za velik projekt R&R lahko pravilno oceni, je treba oceniti cilje ukrepa, zlasti, katero nedelovanje trga namerava odpraviti.
Only where market forces alone are unable to reach an economically efficient outcome is a market failure considered to exist.
Šteje se, da nedelovanje trga obstaja samo takrat, kadar tržne sile same ne morejo doseči gospodarsko učinkovitega rezultata.
In their notification, the Swedish authorities explained that due to imperfect and asymmetric information, there is lack of private risk-sharing financing for the GEnx project which is characterised by high technological risks and long-term returns.
Švedski organi so v svoji priglasitvi pojasnili, da zaradi nepopolnih in nasprotujočih si informacij primanjkuje sredstev za zasebno financiranje z deljenim tveganjem za projekt GEnx, za katerega so značilna velika tehnološka tveganja in dolgoročni donosi.
The Commission has recognised the existence of such market failure concerning large programmes in the aerospace sector in previous decisions [13].
Komisija je priznala obstoj takega nedelovanja trga v zvezi z obširnimi programi v letalskem sektorju v prejšnjih odločbah [13].
However, this does not mean that any project in the sector would face a market failure.
Vendar pa to ne pomeni, da bo pri vsakem projektu v sektorju obstajalo nedelovanje trga.
It is evident that in several occasions, various companies in the sector have been able to fund new projects either from their own resources or through the financial markets.
Očitno je, da so različna podjetja v sektorju lahko večkrat financirala nove projekte iz svojih lastnih sredstev ali preko finančnih trgov.
The Commission must assess the presence and the extent of a market failure in the specific case under assessment.
Komisija mora oceniti obstoj in obseg nedelovanja trga v določenem primeru, ki se ocenjuje.
In the opening decision, the Commission questioned whether there was a market failure considering that the formal decision of the Government to grant the aid arrived at a very late stage in the programme when the project had already been financed by Volvo Aero from its operating cash flow and the intra-group cash pool.
V odločbi o sprožitvi postopka se je Komisija spraševala, ali je nedelovanje trga obstajalo, glede na to, da je bila uradna odločitev vlade za dodelitev pomoči sprejeta v zelo pozni fazi programa, ko je projekt že financiralo podjetje Volvo Aero iz svojega denarnega toka poslovanja in združenih denarnih sredstev znotraj skupine.
The Commission therefore questioned whether the intra-group funding could de facto constitute long-term funding of the GEnx project.
Komisija se je zato spraševala, ali bi lahko financiranje znotraj skupine dejansko pomenilo dolgoročno financiranje projekta GEnx.
The Commission takes account of information provided by the Swedish authorities on the Volvo Group’s financial policy, including the terms and conditions of the intra-group loan to Volvo Aero, which seeks to demonstrate that the funding from the intra-group cash pool system could not be considered as long-term financing for the GEnx project.
Komisija upošteva informacije, ki so jih predložili švedski organi o finančni politiki podjetja Volvo Group, vključno s pogoji posojila znotraj skupine za podjetje Volvo Aero, s katerimi želijo dokazati, da financiranje iz sistema združenih denarnih sredstev znotraj skupine ne bi moglo veljati za dolgoročno financiranje projekta GEnx.
Such funding rather represented an emergency temporary measure to enable Volvo Aero to meet its contractual obligations towards GE; however, its continuation would threaten to unbalance the funding of other Group operations.
Takšno financiranje je verjetno predstavljalo nujen začasni ukrep, ki bi podjetju Volvo Aero omogočil izpolnjevanje pogodbenih obveznosti do GE, vendar bi njegovo nadaljevanje lahko povzročilo neuravnoteženost financiranja drugih dejavnosti skupine.
As explained by Sweden, the Group financial policies require that the subsidiaries are financed from their operating cash flow or the intra-group cash pool that is funded via the Group companies and through external sources.
Kot je pojasnila Švedska, finančna politika skupine zahteva, da se podružnice financirajo iz svojega denarnega toka poslovanja ali združenih denarnih sredstev znotraj skupine, ki se vlagajo prek podjetij skupine in zunanjih virov.
Volvo Treasury is in charge of the Group’s cash pool management to ensure that there are sufficient reserves to safeguard the ongoing funding of Volvo operations.
Volvo Treasury je odgovoren za upravljanje združenih denarnih sredstev znotraj skupine z namenom zagotavljanja zadostnih rezerv za zaščito tekočega financiranja dejavnosti podjetja Volvo.
It is responsible for assessing the overall needs and possibilities of all the Group’s business areas and determining the cash pool limits (borrowing and lending) of the Volvo Group companies on a quarterly basis.
Odgovoren je za ocenjevanje skupnih potreb in možnosti na vseh poslovnih področjih skupine ter določanje omejitev združenih denarnih sredstev (izposojanje in posojanje) podjetij skupine Volvo Group na četrtletni osnovi.
As further explained by the Swedish authorities, the intra-group funding is not supposed to cover project-related financing.
Kot so nadalje pojasnili švedski organi, sredstva znotraj skupine niso namenjena kritju stroškov financiranja v zvezi s projektom.
It is the responsibility of the subsidiaries to self-finance their R & D expenditures.
Podružnice so obvezane, da same financirajo svoje izdatke za R&R.
Besides, the Group’s cash pool facility can only be used for short-term projects, under strict repayment conditions and in proportion to the contribution made to the Group operating income, so that the intra-group financing is not done at the expense of other Group business areas.
Poleg tega se lahko združena denarna sredstva skupine uporabijo samo za kratkoročne projekte, pod strogimi vračilnimi pogoji in v sorazmerju s prispevkom k prihodku iz poslovanja skupine, tako da se financiranje znotraj skupine ne izvaja na stroške drugih poslovnih področij skupine.
According to the Swedish authorities, the intra-group funding is provided on market terms.
Po navedbah švedskih organov so sredstva znotraj skupine zagotovljena po tržnih pogojih.
The Commission notes that Volvo Aero’s reliance on the intra-group cash pool for nearly 4 years has been an exception to the Group financial policies.
Komisija ugotavlja, da je bila skoraj štiriletna odvisnost podjetja Volvo Aero od združenih denarnih sredstev znotraj skupine izjema finančne politike skupine.
According to Sweden, Volvo Aero was the only operating company that constantly received a substantial negative cash pool limit ranging between SEK […] to […] million (approx. EUR […] to […] million) from 2004-2008.
Po navedbah Švedske je bil Volvo Aero edino delujoče podjetje, ki je redno prejemalo večjo negativno omejitev združenih denarnih sredstev, ki se je v obdobju 2004–2008 gibala med […] in […] milijoni SEK(pribl. med […] in […] milijonov EUR).
Besides, the cash pool limits are no longer fixed on an annual basis, but on a quarterly basis.
Poleg tega se omejitve združenih denarnih sredstev ne določajo več na letni, temveč na četrtletni osnovi.
With its limited contribution of 2 % to the Group’s operating income, such reliance on the intra-group funding has been disproportionate compared to the Company’s relative importance in the Group [14].
Z omejenim 2-odstotnim prispevkom k prihodku iz poslovanja skupine je bila taka odvisnost od sredstev znotraj skupine v primerjavi z relativno pomembnostjo podjetja v skupini [14] nesorazmerna.
The Commission also takes account of the explanation provided by the Swedish authorities that such exceptional reliance on the Group’s cash pool funding threatens to undermine the coherence of the Group’s operations.
Komisija upošteva tudi pojasnilo, ki so ga predložili švedski organi, da taka izjemna odvisnost od združenih denarnih sredstev skupine lahko ogrozi skladnost dejavnosti skupine.
Volvo Aero has relied on the Group’s cash pool at the expense of funding other Group’s business areas, thus endangering the continuity and balanced growth of other Group operations [15], as it creates an imbalance of risks between the Volvo Group’s aerospace and non-aerospace divisions.
Volvo Aero je bil odvisen od združenih denarnih sredstev skupine na stroške drugih poslovnih področij skupine, to pa ogroža kontinuiteto in uravnoteženo rast drugih dejavnosti skupine [15], saj ustvarja neuravnoteženost tveganj med letalskimi in neletalskimi oddelki podjetja Volvo Group.
This would limit the Group’s capacity for funding other Group projects which are less risky and give better returns.
To bi omejilo zmogljivost skupine za financiranje drugih projektov skupine, ki so manj tvegani in ustvarjajo boljše donose.
The Commission considers that a continuous reliance on the intra-group cash pool is not sustainable in the long run, as the Group is putting Volvo Aero under severe financial pressure to repay the loan, notwithstanding its severe negative cash flow position.
Komisija je mnenja, da stalna odvisnost od združenih denarnih sredstev skupine na dolgi rok ne bo vzdržala, saj skupina na podjetje Volvo Aero izvaja hud finančni pritisk za odplačilo posojila, ne glede na njegov negativen denarni tok.
Volvo Aero had a negative operating cash flow after tax of SEK […] million (approx EUR […] million) in 2008.
Volvo Aero je imel po plačilu davka leta 2008 negativen denarni tok poslovanja […] milijonov SEK(pribl. […] milijonov EUR).
Volvo Aero has therefore been obliged to take a number of internal measures to generate cash, such as […] [16].
Volvo Aero je moral zato uvesti več notranjih ukrepov za ustvarjanje prihodka, kot npr […] [16].
On the basis of these arguments, the Commission is able to conclude that the intra-group cash pool has provided liquidity coverage for Volvo Aero to enable the Company to meet its obligations towards GE.
Na podlagi teh argumentov Komisija lahko sklepa, da so združena denarna sredstva znotraj skupine podjetju Volvo Aero zagotavljala kritje likvidnosti, da je lahko izpolnilo svoje obveznosti do GE.
However, such funding could not sustain the long-term financing of the project, as it could undermine the coherence of the intra-group funding and create risks to the balance between the Group businesses.
Vendar pa taka sredstva ne bi mogla vzdržati pri dolgoročnem financiranju projekta, saj bi lahko ogrozila skladnost sredstev znotraj skupine in pomenila tveganja za ravnovesje med podjetji skupine.
Nevertheless, considering that aerospace is one of the Group’s business areas, albeit limited to 2 % of the Group’s operating income, the Group should contribute some long-term funding to the project, even if, according to the Swedish authorities, the Company is not entitled to seek from Volvo Treasury a more structured long-term commitment regarding the GEnx.
Glede na to, da je letalstvo eno izmed poslovnih področij skupine, čeprav omejeno na 2 % prihodkov iz poslovanja skupine, pa bi skupina vseeno morala prispevati nekaj sredstev za dolgoročno financiranje projekta, kljub temu, da po navedbah švedskih organov podjetje ni upravičeno do pridobitve bolj sistematične dolgoročne obveznosti v zvezi z GEnx pri podjetju Volvo Treasury.
Therefore, on the basis of the information provided, the magnitude and nature of the market failure concerning the GEnx project appears somewhat limited, which could indicate that the proposed aid amount may not be truly proportionate to it.
Na podlagi predloženih informacij se zato zdi, da sta obseg in narava nedelovanja trga v zvezi s projektom GEnx do neke mere omejena, kar bi lahko kazalo na to, da predlagani znesek pomoči v resnici ni v sorazmerju s projektom.
Furthermore, given that Volvo Aero does not have the financial autonomy to seek external funding for the investments like the one supported by the measure, the Commission questioned in the opening decision whether the Volvo Group indeed lacked the means of securing external funding for the GEnx project.
Poleg tega se je glede na to, da Volvo Aero ni finančno neodvisen pri pridobivanju zunanjih sredstev za naložbe, kot je ta, ki temelji na ukrepu, Komisija v odločbi o sprožitvi postopka spraševala, ali je podjetju Volvo Group v resnici primanjkovalo sredstev za zagotovitev zunanjega financiranja projekta GEnx.
In their observations, the Swedish authorities first confirmed that the Volvo Group companies are not allowed to obtain any direct external funding from banks and other financial institutions.
Švedski organi so v svojih pripombah najprej potrdili, da podjetja skupine Volvo Group niso upravičena do nobenih neposrednih zunanjih sredstev bank in drugih finančnih institucij.
Prior to the application for the Government support, the Group explored other possible sources of external risk capital, but without success.
Preden je skupina zaprosila za vladno podporo, je brez uspeha iskala druge možne vire zunanjega rizičnega kapitala.
Despite the fact that AB Volvo is in a strong position to access external funding, there is very limited external funding available for this type of long-term aerospace R & D project, partly due to perceived high project risks.
Kljub dejstvu, da ima AB Volvo močan položaj pri dostopu do zunanjih sredstev, so za to vrsto dolgoročnega letalskega projekta R&R na voljo zelo omejena zunanja sredstva, delno zaradi zaznanih velikih projektnih tveganj.
The Swedish authorities also provided arguments explaining why borrowing would not be suitable to fund capital-intensive aerospace R & D projects with high technological and commercial risks and very long pay-back periods.
Švedski organi so predložili tudi argumente, s katerimi pojasnjujejo, zakaj izposojanje ne bi bil ustrezen način za financiranje kapitalsko intenzivnih letalskih projektov R&R z velikimi tehnološkimi in poslovnimi tveganji ter zelo dolgimi obdobji odplačevanja.
The Swedish authorities explained that the Volvo Group sought external risk-sharing financing for the GEnx project without success.
Švedski organi so pojasnili, da je podjetje Volvo Group za projekt GEnx neuspešno iskalo zunanja sredstva za financiranje z deljenim tveganjem.
The Volvo Group approached Nordea Bank, but the bank would not provide risk-sharing financing.
Volvo Group se je obrnil na banko Nordea Bank, ki pa ne bi zagotovila sredstev za financiranje z deljenim tveganjem.
The Volvo Group also contacted private equity players on an informal basis, but without success.
Prav tako je podjetje Volvo Group na neuradni ravni navezalo stik z zasebnimi akterji z lastniškim deležem, vendar neuspešno.
Finally, Volvo Aero was able to secure only a small contribution from one sub-contractor (Carlton ForgeWorks) to cover the entry fee to GE.
Na koncu je Volvo Aero lahko zagotovil le majhen prispevek enega od podizvajalcev (Carlton ForgeWorks), da je plačal vstopno pristojbino družbi GE.
The Commission therefore is able to conclude that no external funding was available for the GEnx project.
Komisija zato lahko sklepa, da za projekt GEnx ni bilo na voljo nobenih zunanjih sredstev za financiranje.
The Commission also noted in the opening decision that the financial policies of Volvo Group seem to imply that State funding was the pre-condition for financing its subsidiaries.
V odločbi o sprožitvi postopka je Komisija še navedla, da bi bilo iz finančne politike skupine Volvo Group mogoče sklepati, da so bila državna sredstva predpogoj za financiranje njenih podružnic.
In their observations, the Swedish authorities explained that public funding was not a precondition for the Group to finance its subsidiaries.
Švedske oblasti so v svojih pripombah pojasnile, da javna sredstva niso bila predpogoj za to, da je skupina financirala svoje podružnice.
The Group’s financial policies define the procedures for seeking alternative sources of funding, either through loans from outside the Volvo Group or commercial credit and other forms of structured products, including public funding.
Finančna politika skupine določa postopke za pridobitev alternativnih virov financiranja preko posojil zunaj skupine Volvo Group ali komercialnega kredita in drugih oblik strukturiranih produktov, vključno z javnimi sredstvi.
On the basis of the comments provided, the Commission finds that while the non-availability of the aid has forced Volvo Aero to rely heavily on the intra-group financing, the Group does not appear to be in a position to sustain such funding in the long run without imposing risks on other Group’s operations.
Komisija na podlagi predloženih pripomb meni, da je bilo podjetje Volvo Aero zaradi nerazpoložljivosti pomoči primorano v močno odvisnost od sredstev za financiranje znotraj skupine in da skupina ni sposobna dolgoročno ohranjati takih sredstev, ne da bi to povzročilo tveganja za druge dejavnosti skupine.
In light of the new elements and the reduction in the aid from the Swedish authorities to take account of the Group’s own de facto contribution to the project at the date of the formal granting of the aid, the Commission is able to conclude that the aid is intended to address a market failure.
Glede na nove elemente in zmanjšanje pomoči s strani švedskih organov z namenom upoštevanja dejanskega prispevka same skupine pri projektu na datum uradne dodelitve pomoči, Komisija lahko sklepa, da je pomoč namenjena odpravi nedelovanju trga.
In its opening decision the Commission expressed doubts about the incentive effect of the aid, as the formal agreement of the Swedish Government of the aid to be granted was given when the project had been largely implemented, at least for the Boeing B787.
Komisija je v svoji odločbi o sprožitvi postopka izrazila dvom o spodbujevalnem učinku pomoči, saj je švedska vlada dala uradno soglasje o dodelitvi pomoči, ko je bil projekt, vsaj za Boeing B787, v veliki meri že izveden.