natgillin/translations-raw huggingface dataset:
It concluded in 1995 that a substantial proportion of TV2’s financial problems could be attributed to the station having been established without an injection of capital [79].
Leta 1995 je sklenil, da je mogoče bistven del finančnih težav TV2 pripisati temu, da je bila postaja ustanovljena brez kapitalske naložbe [79].
The main recommendation made by the National Audit Office was that the State should inject approximately DKK 530 million of capital into TV2 by converting the start-up loans.
Glavno priporočilo generalnega revizorja je bilo, naj država vloži okoli 530 milijonov DKK kapitala v TV2 s preoblikovanjem posojil za ustanovitev podjetja.
This would give TV2 capital of approximately DKK 350 million and a solvency ratio of around 50 %.
To bi dalo TV2 okoli 350 milijonov DKK kapitala in približno 50-odstotno stopnjo solventnosti.
The recommended solvency ratio of approximately 50 % was equivalent to that of privately owned undertakings such as TV2 Norge (Norway) and TV4 (Sweden).
Priporočena, približno 50-odstotna stopnja solventnosti je enakovredna stopnji zasebnih podjetij, kot sta TV2 Norge (Norveška) in TV4 (Švedska).
Following this report, the State auditors — the members of the Danish Parliament appointed to be responsible for a critical audit of, among other things, the accounts of State-owned undertakings — asked the Ministry of Finance for its opinion on the question of whether TV2 should build up capital.
Po tem poročilu so državni revizorji – člani danskega parlamenta, pristojni za kritično revizijo, med drugim, računov državnih podjetij – ministrstvo za finance zaprosili za mnenje o vprašanju, ali naj TV2 poveča kapital.
However, it was decided that the State would not contribute the capital all at once.
Vendar je bila sprejeta odločitev, da država celotnega kapitala ne bo prispevala naenkrat.
would instead itself build up the necessary capital through ongoing surpluses.
bi zato sama povečala potreben kapital s tekočimi presežki.
From 2001, the free capital at any one time was to be at least DKK 200 million, based on the latest accounts.
Glede na najnovejše račune naj bi od leta 2001 prosti kapital v katerem koli trenutku znašal vsaj 200 milijonov DKK.
The 1997 executive order issued by the Minister setting the minimum free capital was published in the Danish Official Gazette (Lovtidende).
Odredba iz leta 1997, ki jo je izdal minister in določa minimalni prosti kapital, je bila objavljena v danskem uradnem listu (Lovtidende).
In addition, from 1998 onwards, the build-up of capital in accordance with the requirements of the Statutes was specifically mentioned in TV2’s published annual accounts.
Poleg tega je bilo od leta 1998 naprej povečanje kapitala v skladu z zahtevami iz statutov posebej navedeno v objavljenih letnih računovodskih izkazih TV2.
According to the Danish authorities, failure to observe with the minimum capital requirement of DKK 200 million under its Statutes would be expected to result in TV2 being placed under State administration.
Po mnenju danskih oblasti bi se pričakovalo, da bi bila TV2 v primeru, če ne izpolni zahteve glede minimalnega kapitala v višini 200 milijonov DKK v okviru svojih statutov, dana pod državno upravo.
The Commission considers that the crucial issue is to determine if and to what extent the capital base attained through the compensation was indeed necessary for the performance of TV2’s public service mission.
Komisija meni, da je ključna težava določiti, ali in v kakšnem obsegu je bila kapitalska osnova, pridobljena z nadomestilom, dejansko potrebna za izvedbo mandata TV2 za javno radijsko in televizijsko oddajanje.
Having regard to the above description of the procedure and the reasons that led to the build-up of TV2’s reserves in the form of a capital base, and in the light of the Court’s judgment, the Commission considers that the build-up of a reserve was indeed necessary for TV2 to fulfil its public service mission.
Komisija glede na zgornji opis postopka in razlogov, ki so privedli do povečanja rezerv TV2 v obliki kapitalske osnove, ter glede na sodbo Sodišča meni, da je bilo povečanje rezerve dejansko potrebno, da je TV2 izpolnila svoj mandat za javno radijsko in televizijsko oddajanje.
However, the Commission wonders whether the entire amount of the reserves was really justified and necessary, i.e. whether the full amount of the capital base built up by the end of 2002 was really necessary for the performance of TV2’s public service mission.
Vendar Komisija dvomi, da je bil celoten znesek rezerv resnično upravičen in potreben, tj. da je bil celoten znesek kapitalske osnove, ki se je nabral do konca leta 2002, resnično potreben za izvedbo mandata TV2 za javno radijsko in televizijsko oddajanje.
In the Commission’s view, the size of the capital base that could be considered proportionate and necessary to guarantee the provision of the public service depends on the facts and the legal framework of each individual case.
Po mnenju Komisije je obseg kapitalske osnove, ki bi se lahko obravnaval kot sorazmeren in potreben za zagotovitev izvajanja javne storitve, odvisen od dejstev in pravnega okvira vsakega posameznega primera.
The figures available to the Commission regarding TV2’s capital base are shown in the table below:
Zneski, ki so na voljo Komisiji v zvezi s kapitalsko osnovo TV2, so prikazani v spodnji preglednici:
Earmarked capital (digitisation)
Rezerviran kapital (digitalizacija)
Free capital
Prosti kapital
Total capital
Skupni kapital
Total liabilities
Skupne obveznosti
Solvency ratio [81]
Stopnja solventnosti [81]
On 31 December 2002, TV2 had built up capital of DKK 550,5 million, including DKK 72 million of earmarked capital (digitisation), which corresponds to a solvency ratio of 34 %.
je imela 31. decembra 2002 550,5 milijona DKK povečanega kapitala, vključno z 72 milijoni DKK rezerviranega kapitala (digitalizacija), kar ustreza 34-odstotni stopnji solventnosti.
The amount of free capital at the end of 2002 was DKK 478,5 million.
Znesek kapitala v gotovini je ob koncu leta 2002 znašal 478,5 milijona DKK.
First the Commission notes that part of the capital was not free capital.
Prvič, Komisija ugotavlja, da del kapitala ni bil prosti kapital.
In 1997, DKK 167 million was transferred to TV2 for this purpose.
Leta 1997 je bilo v ta namen na TV2 prenesenih 167 milijonov DKK.
The Commission therefore considers that this amount was necessary for TV2’s public service needs.
Zato Komisija meni, da je bil ta znesek nujen za potrebe javnih storitev TV2.
The fact that the funds that had not been invested in digitisation by 1 January 2003 (a balance of DKK 72 million) were ultimately released does not alter this conclusion because, during the period under investigation, these sums were clearly entered in TV2’s accounts as earmarked capital that could only be used for the purpose of digitisation and, as the Court stated in its judgment, the fact that TV2 did not in practice have to draw on a reserve does not support the inference that this reserve had to be regarded as disproportionate to the funding needs of providing the public service [83].
Dejstvo, da so bila sredstva, ki niso bila vložena v digitalizacijo do 1. januarja 2003 (saldo v višini 72 milijonov DKK), na koncu sproščena, ne spremeni tega sklepa, ker so bili zneski v preiskovanem obdobju jasno vneseni v računovodske izkaze TV2 kot rezervirani kapital, ki se lahko porabi samo za namene digitalizacije, in, kot je Sodišče navedlo v svoji sodbi, dejstvo, da postaji TV2 v praksi ni bilo treba poseči v svoje rezerve, ne omogoča sklepa, da bi bilo treba to rezervo šteti za nesorazmerno glede na potrebe zagotavljanja javne storitve [83].
It should also be noted that at 31 December 1994 (at the start of the period covered by the present decision) TV2’s capital was negative (minus almost DKK 156 million) and that in 1995 and 1996, TV2 had a negative solvency ratio and negative capital, which explains why the total capital at the end of 2002 was lower than the compensation received.
Treba je tudi opozoriti, da je bil 31. decembra 1994 (na začetku obdobja, ki ga krije ta sklep) kapital TV2 negativen (skoraj minus 156 milijonov DKK) ter da je imela TV2 leta 1995 in leta 1996 negativno stopnjo solventnosti in negativen kapital, kar pojasnjuje, zakaj je bil skupni kapital ob koncu leta 2002 nižji od prejetega nadomestila.
It was only at the end of 2000 that TV2’s free capital rose above the required minimum threshold of DKK 200 million.
Prosti kapital TV2 se je nad zahtevano minimalno mejno vrednost v višini 200 milijonov DKK povečal šele konec leta 2000.
For instance, TV2’s solvency ratio was lower than that of TV2 Norge (36 %) and considerably lower than that of TV4 (Sweden), whose solvency ratio was 65 %, almost twice that of TV2.
Na primer, stopnja solventnosti TV2 je bila nižja od stopnje TV2 Norge (36 %) in bistveno nižja od stopnje TV4 (Švedska), ki je bila 65 %, skoraj dvakrat večja od stopnje TV2.
According to the opinion, TV2’s solvency ratio was below that of its peers and therefore could not be considered excessive.
Glede na mnenje je bila stopnja solventnosti TV2 nižja od stopenj drugih postaj in je zato ni mogoče obravnavati kot čezmerno.
The opinion also pointed out that there was no reason to believe that the capital structure of those comparable broadcasters was not optimised.
V mnenju je bilo tudi poudarjeno, da ni bilo razloga za prepričanje, da kapitalska struktura teh primerljivih postaj ni bila optimizirana.
PricewaterhouseCoopers also indicated that a solvency ratio of less than 30 % over time would be unusual and would render the company vulnerable to income fluctuations.
Podjetje PricewaterhouseCoopers je tudi nakazalo, da bi bila manj kot 30-odstotna stopnja solventnosti sčasoma nenavadna, podjetja pa bi postala bolj dovzetna za nihanja dohodka.
The comparison with other operators should be interpreted with caution since they do not perform the same public service tasks as TV2, are not financed in the same way, and do not have the same legal status.
Primerjavo z drugimi operaterji je treba previdno razlagati, ker ne izvajajo enakih nalog javnih storitev kot TV2, se ne financirajo na enak način in nimajo enakega pravnega statusa.
Nevertheless, the opinion gives some indication and can be taken into account alongside other elements.
Vendar mnenje vsebuje nekatere primere in se lahko upošteva poleg drugih elementov.
In this connection the Commission notes that the Danish authorities submitted information showing that, during the last part of the period under investigation, they planned to convert TV2 into a public limited company and privatise it.
Komisija v zvezi s tem ugotavlja, da so danske oblasti predložile informacije, ki kažejo, da so v zadnjem delu preiskovanega obdobja načrtovali preoblikovanje TV2 v javno delniško družbo in njeno privatizacijo.
As part of the conversion process, an analysis was also made of how the licence fee funding could be phased out, as the Danish authorities intended to abolish funding via licence fees after TV2’s privatisation.
Kot del postopka preoblikovanja je bila izvedena tudi analiza, kako bi se lahko postopno odpravilo financiranje iz naročnin, saj so danske oblasti po privatizaciji TV2 nameravale odpraviti financiranje prek naročnin.
To this end, in June 2002 the Danish government entered into an agreement with a majority in Parliament on a thorough liberalisation of Danish media policy.
V ta namen je danska vlada junija 2002 z večino v parlamentu sklenila sporazum o temeljiti liberalizaciji danske politike medijev.
Under the agreement, TV2 was to be converted with a view to privatisation as soon as possible.
naj bi se v skladu s sporazumom čim prej preoblikovala z namenom privatizacije.
An analysis was made of the financial basis for converting TV2 into a limited company.
Izvedena je bila analiza finančne podlage za preoblikovanje TV2 v delniško družbo.
The Minister of Culture appointed a steering group in the summer of 2002 with representatives from the Culture Ministry, the Finance Ministry and the Attorney General (Kammeradvokat) in order to clarify the economic basis for privatising TV2 and converting it into a limited company.
Minister za kulturo je poleti 2002 imenoval usmerjevalno skupino s predstavnikoma z ministrstva za kulturo in finančnega ministrstva ter generalnim državnim pravobranilcem (Kammeradvokat), da bi pojasnili gospodarsko podlago za privatizacijo TV2 in preoblikovanje postaje v delniško družbo.
To support its work, the steering group engaged an auditing firm and a financial advisor in order, for example, to calculate the level of capital needed by TV2.
Usmerjevalna skupina je za podporo svojega dela vključila revizijsko podjetje in finančnega svetovalca, da bi, na primer, izračunali stopnjo kapitala, ki ga je potrebovala TV2.
The auditing firm concluded that TV2’s capital should be set at DKK 640 million.
Revizijsko podjetje je sklenilo, da bi bilo treba kapital TV2 določiti na 640 milijonov DKK.
The Danish Parliament’s Finance Committee approved the conversion of TV2 into a limited company and the setting of its capital.
Finančni odbor danskega parlamenta je odobril preoblikovanje TV2 v delniško družbo in določitev njenega kapitala.
In 2005, privatisation was postponed but TV2 no longer received licence fees after 2004.
Privatizacija je bila leta 2005 odložena, vendar TV2 po letu 2004 ni več prejemala naročnin.
In view of the foregoing, the Commission considers that one of the factors it must take into account in assessing the compatibility of the reserves is the fact that during the last part of the period under investigation the Danish authorities already planned to change TV2’s legal status, which implies the need for a capital base.
Komisija glede na navedeno meni, da je eden od dejavnikov, ki ga mora upoštevati pri ocenjevanju združljivosti rezerv, dejstvo, da so danske oblasti v zadnjem delu preiskovanega obdobja že načrtovale spremembo pravnega statusa TV2, kar kaže na potrebo po kapitalski osnovi.
In its decisions, the Commission’s practice is to look favourably in principle on schemes to convert State entities that compete with commercial enterprises into limited company form, since doing so may reduce distortions of competition by replacing unlimited State advantages with a limited amount of capital and by creating a clear distinction between the role of the State as a public authority and its role as an entrepreneur seeking a return on its investment.
Praksa Komisije pri sprejemanju odločitev je načelno odobravanje shem za preoblikovanje državnih podjetij, ki tekmujejo s komercialnimi podjetji, v obliko delniške družbe, ker bi to lahko zmanjšalo izkrivljanja konkurence s tem, da se državne ugodnosti nadomestijo z omejenim zneskom kapitala in da se ustvari jasno razlikovanje med vlogo države kot javnim organom in njeno vlogo kot podjetnikom, ki išče povračilo svoje naložbe.
In addition, among the other factors to be taken into account, the Commission considers that the level of TV2’s reserves should be viewed in the light of fluctuations in revenue from the advertising market.
Komisija meni, da bi bilo treba poleg drugih dejavnikov, ki se upoštevajo, raven rezerv TV2 obravnavati v smislu nihanja prihodka iz oglaševalskega trga.
was indeed vulnerable to the revenue fluctuations that are an inevitable aspect of the advertising market.
je bila dejansko dovzetna za nihanja prihodka, ki so neizogiben vidik oglaševalskega trga.
For example, in one year (1998 to 1999) TV2 experienced a drop in advertising revenue of approximately DKK 104 million.
Na primer, prihodek TV2 iz oglaševanja se je v enem letu (1998–1999) znižal za okoli 104 milijone DKK.
According to the Danish authorities, the only way for TV2 to be able to cope with falls of this size was by having a very considerable amount of free capital, as licence fee revenue was fixed in advance for several years.
Po mnenju danskih oblasti je edini način, da bi TV2 lahko obvladovala taka znižanja zneskov, ta, da bi imela zelo visok znesek prostega kapitala, saj je bil prihodek iz naročnin določen za več let vnaprej.
Even though TV2 was less dependent on advertising revenue than TV2 Norge and TV4, which do not receive licence fees, funding via advertising nevertheless constituted an important source of financing for TV2’s operations during the period in question.
Čeprav je bila TV2 manj odvisna od prihodka iz oglaševanja kot TV2 Norge in TV4, ki ne prejemata naročnin, je bilo financiranje prek oglaševanja kljub temu pomemben vir financiranja za dejavnosti TV2 v zadevnem obdobju.
In this respect, the Commission takes note that the Court made it clear in its judgment [84] that ‘[t]he fact that TV2 did not have to draw on its reserves in 1999 does not support the inference that those reserves had to be regarded as disproportionate to the funding needs of providing the public service. It is in the very nature of a reserve which is built up to deal with an uncertainty that it does not necessarily have to be used.’
Komisija v zvezi s tem upošteva, da je Sodišče v svoji sodbi [84] jasno poudarilo, da „[d]ejstvo, da postaji TV2 leta 1999 ni bilo treba poseči v svoje rezerve, ne omogoča sklepa, da bi jih bilo treba šteti za nesorazmerne glede na svoje potrebe za opravljanje javne službe. Za samo rezervo, vzpostavljeno za preprečitev tveganja, je namreč značilno, da ni nujno, da se jo uporabi.“
The Commission agrees with the Danish authorities that in assessing TV2’s needs it must also take account of the fact that TV2 experiences substantial fluctuations in liquidity both in the course of a single year and from one year to the next, since major sports events such as the Olympic Games only take place at intervals of several years and programme rights are typically offered under multi-year contracts.
Komisija se strinja z danskimi oblastmi, da mora pri ocenjevanju potreb TV2 upoštevati dejstvo, da se TV2 sooča z znatnimi nihanji v likvidnosti tako v obdobju enega leta kot od enega do drugega leta, saj se večji športni dogodki, kot so olimpijske igre, odvijajo samo v večletnih intervalih, programske pravice pa se praviloma ponujajo v okviru večletnih pogodb.
For example, it can be seen from the annual report for 1995 [85] that the surplus for 1995 was carried forward to 1996 to cover the expected deficit for that year, when there was particularly high expenditure in connection with the Olympics and the European Football Championships.
Na primer, iz letnega poročila za leto 1995 [85] je razvidno, da se je presežek iz leta 1995 prenesel v leto 1996 za pokritje pričakovanega primanjkljaja za zadevno leto, v katerem so bili izdatki še posebej visoki zaradi olimpijskih iger in evropskega nogometnega prvenstva.
In addition, it should also be noted that during the period under investigation, TV2 was precluded from using ordinary loan financing.
Poleg tega je treba še poudariti, da je bila TV2 v preiskovanem obdobju onemogočena uporaba običajnega financiranja s posojili.
Investment loans were permitted for up to 4 % of revenue, based on the most recent accounts.
Investicijski krediti so bili dovoljeni za do 4-odstotni prihodek na podlagi najnovejših računovodskih izkazov.
was prohibited from taking out any other forms of loans, guarantees, or finance lease obligations, apart from general operating credit.
je bilo prepovedano najemanje posojil, jamstev ali obveznosti iz finančnega najema v kakršni koli drugi obliki, razen splošnega kredita za tekoče poslovanje.
TV2’s limited opportunities for loan financing meant that in principle its liquidity needs had to be covered by liquidity from operations.
Omejene možnosti TV2 za financiranje s posojili so pomenile, da so morale biti njene likvidnostne potrebe načeloma krite z likvidnostjo iz dejavnosti.
Finally, the level of capital is shown in the published accounts.
Raven kapitala je prikazana v objavljenih računovodskih izkazih.
During the period in question, the National Audit Office audited TV2’s accounts.
Generalni revizor je v obravnavanem obdobju pregledal računovodske izkaze TV2.
The audits included both financial and management audits, although the National Audit Office had no power to prevent overcompensation of the public service costs of TV2.
Revizije so vključevale finančne jn upravne revizije, čeprav generalni revizor ni bil pooblaščen, da bi preprečil prekomerna nadomestila stroškov javnih storitev TV2.
As the Court held in its judgment [86], the fact that this auditing body did not have any power to prevent overcompensation does not permit the conclusion that the Danish authorities did not carry out checks.
Kot je navedlo Sodišče v svoji sodbi [86], dejstvo, da ta revizorski organ ni imel nobenih pooblastil za preprečitev prevelikega nadomestila, ne omogoča sklepa, da danske oblasti niso izvedle preverjanj.
On the contrary, the Danish authorities indicated that, had the National Audit Office drawn the conclusion that the capital base was too large, this might, for example, have resulted in licence-fee resources payable to TV2 being reduced in the next media agreement.
Nasprotno, danske oblasti so navedle, da če bi državni urad za revizijo sklenil, da je kapitalska osnova prevelika, bi to lahko, na primer, privedlo do tega, da bi se v naslednjem sporazumu o sredstvih javnega obveščanja sredstva iz naročnine, ki se plačujejo TV2, zmanjšala.
In view of all the foregoing considerations taken as a whole, the Commission considers, as regards the first part of the proportionality assessment, that in this specific case, having regard to the Amsterdam Protocol and the Court’s judgment, the amount of capital accumulated at the end of 2002 (i.e. DKK 550 million) was necessary for TV2 to fulfil its public service mission.
Komisija glede na vse navedene premisleke, vzete kot celoto, v zvezi s prvim delom ocene sorazmernosti meni, da je bil v tem posebnem primeru ob upoštevanju amsterdamskega protokola in sodbe Sodišča znesek akumuliranega kapitala ob koncu leta 2002 (tj. 550 milijonov DKK) potreben za to, da je TV2 izpolnila mandat za radijsko in televizijsko oddajanje.
The sum of DKK 628 million received for that purpose therefore satisfied the criteria of proportionality and necessity under Article 106(2) TFEU.
Zato je znesek v višini 628 milijonov DKK, prejet v ta namen, izpolnil merilo sorazmernosti in nujnosti v skladu s členom 106(2) PDEU.
Although the present decision does not assess possible State aid granted to TV2 in 2003 and 2004 other than the recapitalisation measures, the Commission also notes that the Danish authorities submitted information documenting the fact that in 2004, TV2’s capital amounted to DKK 640 million.
Čeprav ta sklep ne ocenjuje možne državne pomoči, dodeljene TV2 leta 2003 in leta 2004, razen ukrepov za dokapitalizacijo, komisija tudi ugotavlja, da so danske oblasti predložile informacije, v katerih je navedeno dejstvo, da je leta 2004 kapital TV2 znašal 640 milijonov DKK.
A sum of DKK 96 million was invested in commercial activities and it cannot be determined whether this was financed through capital or outside funding.
Znesek v višini 96 milijonov DKK je bil naložen v komercialne dejavnosti in ni mogoče določiti, ali je bilo to financirano prek kapitala ali zunanjih sredstev.
Assuming that only capital was used, this would imply that DKK 544 million of capital was available for TV2 to carry out its public service broadcasting activities.
Če se predpostavlja, da je bil uporabljen kapital, bi to pomenilo, da je bilo za TV2 na voljo 544 milijonov DKK za izvajanje dejavnosti javnega radijskega in televizijskega oddajanja.