natgillin/translations-raw huggingface dataset:
the projections indicated an increase in the profit margin to […] % in 2007 (see Figure 4) and an expected internal rate of return of […] % for 2003-2012 (see Figure 5), which is above the […] % indicated by an independent expert (Bank Degroof) as the profit margin that would be regarded as appropriate by private investors in the postal sector.
napovedi so vključevale povečanje stopnje dobička na […] % leta 2007 (glej preglednico 4) in pričakovano stopnjo notranje donosnosti v višini […] % za obdobje 2003–2012 (glej preglednico 5), kar presega stopnjo v višini […] %, ki jo je neodvisni izvedenec (banka Degroof) navedel kot stopnjo dobička, ki bi bila primerna po mnenju zasebnih vlagateljev v poštnem sektorju.
Figure 4
Preglednica 4
Ex-ante profit projections for 2003-2007 by the Belgian authorities
Napovedi ex ante dobičkov za obdobje 2003–2007, ki so jih izdelali belgijski organi
Figure 5
Preglednica 5
Ex-ante internal rate of return calculation by the Belgian authorities for the most likely scenario
Izračun stopnje notranje donosnosti ex ante, ki so ga izdelali belgijski organi za najverjetnejši scenarij
It can also be noted that the robustness of the projections has been globally validated by the financial results achieved in subsequent years (see Figure 6).
Ugotovimo lahko še, da so finančni rezultati, doseženi v naslednjih letih, večinoma potrdili zanesljivost napovedi (glej preglednico 6).
As a consequence of this increase in profitability, DPLP started to distribute dividends from 2007 onwards.
Ker se je povečala donosnost podjetja DPLP, je to začelo leta 2007 izplačevati dividende.
Figure 6
Preglednica 6
Ex-post profits 2003-2007
Dobiček ex post za obdobje 2003–2007
The performance over a 10-year period is also in line with the 2003 forecasts since the ex-post internal rate of return should amount to […] %, which is above the […] % forecast in 2003.
Rezultati, doseženi v desetletnem obdobju, se prav tako skladajo z napovedmi iz leta 2003, saj bi morala biti stopnja notranje donosnosti ex post […] %, kar je več kot […] %, kot je bilo predvideno leta 2003.
Although the profitability of the Belgian State’s investment seems to be sufficient to justify its compliance with the MEIP, it should be noted that the projected revenues used for the assessment of that profitability included State aid and, in particular, the annual compensation granted to DPLP.
Čeprav se zdi, da je bila naložba belgijske države dovolj donosna za potrditev, da je bilo z njo upoštevano načelo zasebnega vlagatelja v tržnem gospodarstvu, je treba opozoriti, da so pričakovani prihodki, na podlagi katerih je bila zadevna donosnost ocenjena, vključevali državne pomoči in zlasti letna nadomestila, izplačana podjetju DPLP.
However, these State aid measures have clearly distinct aims and have no chronological link with the 2003 capital injection.
Vendar imajo zadevni državni ukrepi očitno ločene cilje in nikakor niso kronološko povezani s kapitalsko injekcijo iz leta 2003.
A private investor would not have waited several years for a judgment from the General Court and the ECJ before taking an investment decision.
Za sprejetje te odločitve zasebni vlagatelj ne bi čakal več let do izreka sodbe Splošnega sodišča in Sodišča.
Therefore, the subsequent annulment of the Commission decision is an event that was not foreseeable at the time of the investment, and must have appeared very unlikely as Commission decisions are considered legal until they are annulled.
Zato je poznejša razglasitev ničnosti te odločbe dogodek, ki v času izvedbe naložbe ni bil predvidljiv, temveč se je moral zdeti le malo verjeten, saj se odločbe Komisije obravnavajo kot zakonite, dokler niso razglašene za nične.
The Commission therefore takes the view that the 2003 capital injection can be regarded as complying with the MEIP and does not constitute State aid within the meaning of Article 107(1) TFEU.
Komisija zato meni, da je mogoče kapitalsko injekcijo iz leta 2003 šteti za združljivo z načelom zasebnega vlagatelja v tržnem gospodarstvu in torej ni državna pomoč v smislu člena 107(1) PDEU.
2006 capital injection: the Belgian authorities have claimed that the 2006 capital injection (EUR 40 million) was made on MEIP terms and therefore did not constitute State aid.
Kapitalska injekcija iz leta 2006: belgijski organi so navedli, da se kapitalska injekcija iz leta 2006 (v višini 40 milijonov EUR) sklada z načelom vlagatelja v tržnem gospodarstvu in zato ni državna pomoč.
The 2006 capital injection was made on the same terms as those applying to a private investor: the increase in DPLP’s capital was subscribed to by the State (EUR 40 million) and by Post Invest Europe (EUR 300 million) at an equivalent price per share (pari passu).
Ta kapitalska injekcija je bila zagotovljena pod enakimi pogoji, kot se uporabljajo za zasebnega vlagatelja: država (v višini 40 milijonov EUR) in podjetje Post Invest Europe (v višini 300 milijonov EUR) sta podjetje DPLP dokapitalizirali po enaki ceni za delnico (pari passu).
At the time, Post Invest Europe was an external investor, which had no connection with DPLP or the Belgian State.
Podjetje Post Invest Europe je bilo takrat zunanji vlagatelj, ki ni bil v ničemer povezan niti s podjetjem DPLP niti z belgijsko državo.
DPLP’s subsequent performance following the 2006 capital increase (see below) also confirms the robustness of the assumptions and parameters taken into account at the time of the investment decision.
Tudi rezultati podjetja DPLP po dokapitalizaciji leta 2006 (glej nadaljevanje) potrjujejo zanesljivost domnev in parametrov, ki so bili upoštevani ob sprejetju odločitve o naložbi.
Figure 7
Preglednica 7
DPLP’s performance from 2006 to 2010
Rezultati podjetja DPLP med letoma 2006 in 2010
The Commission considers that the 2006 capital injection of EUR 40 million clearly corresponds to the behaviour of a market economy investor and therefore does not constitute State aid.
Po mnenju Komisije je očitno, da se kapitalska injekcija iz leta 2006 v višini 40 milijonov EUR sklada z ravnanjem vlagatelja v tržnem gospodarstvu, zato ni državna pomoč.
The corporate tax exemption, while likely to confer an advantage on DPLP by possibly reducing the amount of tax it would otherwise have paid, did not produce any concrete advantage because, from 1992 to 2005, when the tax exemption was abolished, DPLP’s cumulated result after tax was negative.
Oprostitev plačila davka od dohodkov pravnih oseb bi sicer lahko pomenila prednost za podjetje DPLP, ker bi se zaradi nje lahko znižal davek, ki bi ga to podjetje moralo sicer plačati, vendar mu ni prinesla nobene konkretne prednosti: med letoma 1992 in 2005 (ko je bila zadevna oprostitev ukinjena) je bil namreč skupni izid podjetja DPLP po plačilu davka negativen.
While DPLP’s net result in some years was positive, the tax credit carried over from one year to the next would have resulted in no tax payments even if DPLP had been liable for corporate tax.
Tudi če bi bilo podjetje DPLP vključeno v sistem plačevanja davka od dohodka pravnih oseb in bi bil njegov neto izid v nekaterih letih pozitiven, mu ne bi bilo treba plačati davka zaradi davčnega odbitka, ki bi se prenašal iz leta v leto.
Consequently, this exemption is not examined in any more detail in this Decision.
Zato zadevna oprostitev v tem sklepu ni podrobneje preučena.
The property tax and local tax exemptions, by contrast, place DPLP in a more favourable position than that of other undertakings by relieving it of obligations it would have normally have had to bear.
Pač pa je bilo podjetje DPLP z oprostitvijo plačila zemljiškega in lokalnega davka postavljeno v ugodnejši položaj kot druga podjetja, saj je bilo s tem razbremenjeno obveznosti, ki bi jih moralo običajno nositi.
These tax exemptions therefore confer a selective advantage on DPLP.
S tem mu je bila torej podeljena selektivna prednost.
The Belgian authorities have argued that the transfer of buildings was part of an internal reorganisation of State property since at the time DPLP was fully State-owned.
Belgijski organi so trdili, da prenos nepremičnin spada v okvir notranje reorganizacije državnega premoženja, saj je podjetje DPLP takrat v celoti pripadalo državi.
However, the transfer of buildings made available to DPLP new assets which had previously belonged to the State.
Vendar je zadevno podjetje s prenosom nepremičnin dobilo na voljo nova sredstva, ki so pred tem pripadala državi.
DPLP had already been using the buildings while they belonged to the State, but was not the legal owner of them.
Te nepremičnine je uporabljalo že v času, ko so pripadale državi, vendar ni bilo njihov zakoniti lastnik.
The transfer of the legal title of ownership gave DPLP, an undertaking separate from the State, property rights over the buildings.
Podjetje DPLP kot podjetje, ločeno od države, je s prenosom pravnega statusa lastništva pridobilo lastniške pravice nad zadevnimi nepremičninami.
DPLP therefore obtained additional resources compared with the situation before the transfer.
Tako je pridobilo dodatna sredstva v primerjavi s položajem pred prenosom.
The measure therefore conferred a selective advantage on DPLP.
Zato je s tem ukrepom pridobilo selektivno prednost.
Without the State guarantee, DPLP could not have obtained a loan on the same terms.
Podjetje DPLP brez državnega poroštva ne bi moglo dobiti posojila pod enakimi pogoji.
The Belgian authorities have estimated that market rates would have been up to 40 basis points higher, whereas the premium paid to the State was 25 basis points.
Belgijski organi so menili, da bi bile lahko tržne obrestne mere do 40 bazičnih točk višje, pri čemer je premija, izplačana državi, znašala 25 bazičnih točk.
In accordance with the Commission communication on the application of Articles 87 and 88 of the EC Treaty to State aid in the form of guarantees [57] (paragraph 3.2(d)), ‘risk-carrying should normally be remunerated by an appropriate premium on the guaranteed or counter-guaranteed amount. When the price paid for the guarantee is at least as high as the corresponding guarantee premium benchmark that can be found on the financial markets, the guarantee does not contain aid. If no corresponding guarantee premium benchmark can be found on the financial markets, the total financial cost of the guaranteed loan, including the interest rate of the loan and the guarantee premium, has to be compared to the market price of a similar non-guaranteed loan’.
V Obvestilu Komisije o uporabi členov 87 in 88 Pogodbe ES za državno pomoč v obliki poroštev [57] (točka 3.2(d)) je določeno, da „se prevzem tveganja navadno poplača z ustrezno premijo na znesek poroštva ali znesek, zavarovan s poroštvom. Kadar je plačana cena za poroštvo vsaj tako visoka, da ustreza primerljivi poroštveni premiji, ki jo je mogoče najti na finančnih trgih, poroštvo ne zajema pomoči. Če na finančnih trgih ni mogoče najti ustrezno primerljive poroštvene premije, se skupni stroški financiranja posojila s poroštvom, skupaj z obrestmi posojila in poroštveno premijo, primerjajo s tržno ceno podobnega posojila brez poroštva“.
As the premium does not appear to be a normal market rate, the State guarantee allowed DPLP to obtain funding at a cost below what it would have normally had to bear.
Ker se zdi, da zadevna premija ni združljiva s trgom, je državno poroštvo podjetju DPLP omogočilo pridobitev financiranja s stroški, manjšimi od stroškov, ki bi jih moralo načeloma nositi.
The measure therefore conferred a selective advantage on DPLP, which amounts to the difference between the interest rate DPLP would have had to pay in the absence of the State guarantee and the actual interest rate plus the premium paid for the guarantee.
Zato je podjetje DPLP s tem ukrepom pridobilo selektivno prednost, ki je enaka razliki med obrestno mero, ki bi jo moralo plačati brez državnega poroštva, in dejansko obrestno mero skupaj s premijo, plačano za poroštvo.
Therefore the advantage obtained was 15 basis points on the capital outstanding each year.
Tako je vsako leto pridobilo prednost v višini 15 bazičnih točk na neporavnani kapital.
The advantage can therefore be estimated at EUR 1,5 million over the duration of the loan.
Torej je mogoče oceniti, da je prednost za ves čas trajanja posojila znašala 1,5 milijona EUR.
Annual SGEI compensation, including the 1997 capital injections
Letno nadomestilo za SSGP, vključno s kapitalskima injekcijama iz leta 1997
The annual SGEI compensation was financed from the national budget, as specified in the successive management contracts between DPLP and the Belgian State.
Letno nadomestilo za SSGP se je financiralo iz proračuna belgijske države na podlagi več zaporednih pogodb o upravljanju, ki sta jih sklenili podjetje DPLP in belgijska država.
According to the information provided by Belgium, the 1997 capital injections are de facto SGEI compensation and are therefore included in this part of the Decision.
Na podlagi informacij, ki jih je predložila belgijska država, sta kapitalski injekciji iz leta 1997 de facto nadomestilo za SSGP, zato se obravnavata v tem delu sklepa.
The tax exemptions have decreased the State’s tax revenue by reducing the income it would have received in the absence of the tax exemptions.
Zaradi davčnih oprostitev so se zmanjšali davčni prihodki države, saj so se zmanjšali prihodki, ki bi jih ta prejela brez zadevnih oprostitev.
They involve, therefore, a transfer of State resources in the form of a loss of tax revenue for the Belgian State.
Zato pomenijo prenos državnih sredstev v obliki izgube davčnih prihodkov belgijske države.
The buildings transferred to DPLP were previously State property.
Nepremičnine, prenesene na podjetje DPLP, so prej pripadale državi.
The State surrendered ownership to DPLP, thereby reducing its own assets and increasing those of DPLP.
Ta je lastništvo nad njimi prepustila podjetju DPLP ter tako zmanjšala svoja sredstva in povečala sredstva zadevnega podjetja.
The measure therefore constitutes a transfer of State resources.
Torej ukrep pomeni prenos državnih sredstev.
The loan guarantee was granted by the State, which assumed the associated risks from its own budget without a consideration, and therefore constitutes a State resource in the form of foregone revenue.
Poroštvo za posojilo je zagotovila država, ki je tako brez protivrednosti prevzela tveganje na lasten proračun, zato ga je treba obravnavati kot državno sredstvo v obliki izpada prihodka.
Revenues from mail distribution services do not constitute State resources
Prihodki iz storitev dostave pošte niso državna sredstva
Revenues from mail distribution services do not constitute State resources following the Preussen Elektra judgment [58] since the prices paid by users are financed from their own funds, which are outside the State’s control.
Kot izhaja iz sodbe v zadevi Preussen Elektra [58], prihodki iz storitev dostave pošte niso državni prihodki, saj uporabniki ceno, ki jo plačajo, financirajo iz lastnih sredstev, ki niso pod nadzorom države.
Nevertheless, for the purposes of the compatibility assessment, these revenues are directly linked to the provision of a service of general interest in the postal sector and must therefore be taken into account in accordance with point 17 of the SIEG Framework and Article 7 of Directive 97/67/EC for determining the necessity and proportionality of the compensation.
Vendar so ti prihodki z vidika ocene združljivosti neposredno povezani z opravljanjem storitev splošnega pomena v poštnem sektorju, zato jih je treba upoštevati na podlagi točke 17 okvira o SSGP in člena 7 Direktive 97/67/ES, da bi tako ugotovili, ali je bilo nadomestilo potrebno in sorazmerno.
The measures are capable of affecting trade between Member States for the reasons indicated in recital 156 above.
Ukrepi bi lahko prizadeli trgovino med državami članicami iz istih razlogov, kot so navedeni v uvodni izjavi 156.
Summary of aid measures
Povzetek ukrepov pomoči
For the reasons explained in recitals 193 to 222, the following measures constitute State aid within the meaning of Article 107(1) TFEU:
Iz razlogov, predstavljenih v uvodnih izjavah od 193 do 222, so spodaj navedeni ukrepi državne pomoči v smislu člena 107(1) PDEU:
annual SGEI compensation (1992-2010);
letno nadomestilo za SSGP (1992–2010);
1997 capital injections;
kapitalski injekciji iz leta 1997;
property tax exemption (1992-2005);
oprostitev plačila zemljiškega davka (1992–2005);
transfer of buildings in 1992;
prenos nepremičnin iz leta 1992 in
State guarantee granted in 2004.
državno poroštvo iz leta 2004.
Existing aid within the meaning of Article 108(1) TFEU
Veljavna pomoč v smislu člena 108(1) PDEU
Some of the measures under assessment may be considered existing aid within the meaning of Article 108(1) TFEU.
Nekatere ukrepe, ki se preučujejo v obravnavani zadevi, je morda treba obravnavati kot veljavne pomoči v smislu člena 108(1) PDEU.
Corporate tax and property tax exemptions
Oprostitev plačila davka od dohodkov pravnih oseb in oprostitev zemljiškega davka
The exemptions from corporate tax and property tax benefited DPLP when it was still a State administration before 1971 and predate Belgium’s EEC membership.
Oprostitev plačila davka od dohodkov pravnih oseb in oprostitev zemljiškega davka sta podjetju DPLP koristili, ko je bilo še javna uprava, to je pred letom 1971, in sta še iz časa pred pristopom Belgije k EGS.
They have not been modified since.
Odtlej nista bili spremenjeni.
These measures therefore constitute existing aid.
Zato se ta ukrepa štejeta za veljavni pomoči.
The corporate tax exemption was abolished in 2005, whereas the property tax exemption still applies.
Oprostitev plačila davka od dohodkov pravnih oseb je bila ukinjena leta 2005, medtem ko je zadevno podjetje še vedno oproščeno plačila zemljiškega davka.
The Belgian authorities have argued that all the measures dating from before the liberalisation of postal markets in 1999 should be considered existing aid.
Belgijski organi menijo, da bi bilo treba vse ukrepe pred liberalizacijo poštnih trgov leta 1999 obravnavati kot veljavne pomoči.
This claim cannot therefore be accepted by the Commission.
Zato Komisija te trditve ne more sprejeti.
Ten-year limitation period
Desetletni zastaralni rok
The claim that the 10-year limitation period should be counted from the opening of the current formal investigation in 2009 cannot be accepted either.
Sprejeti ni mogoče niti trditve, po kateri bi moral desetletni zastaralni rok teči od začetka tega formalnega postopka preiskave leta 2009.
The General Court’s 2009 judgment did not annul all the preceding investigative acts, but only implied that the Commission should have opened a formal investigation as a result of them [60].
S sodbo Splošnega sodišča iz leta 2009 niso bili razveljavljeni vsi predhodni preiskovalni akti. Iz nje je mogoče razbrati le, da bi morali ti akti Komisijo spodbuditi k začetku formalnega postopka preiskave [60].
By contrast, as the Commission’s first investigative act occurred on 23 December 2002, when it sent its first request for information to the Belgian authorities, the measures put into effect before 23 December 1992 are to be considered existing aid.
Nasprotno, ker je Komisija prvi preiskovalni akt sprejela 23. decembra 2002, ko je na belgijske organe naslovila prvo zahtevo po podatkih, je treba ukrepe, izvedene pred 23. decembrom 1992, šteti za veljavno pomoč.
Compatibility of SGEI compensation in the light of Article 106(2) TFEU
Združljivost nadomestila za SSGP na podlagi člena 106(2) PDEU
The compatibility of the SGEI compensation is assessed under Article 106(2) TFEU and the SGEI Framework.
O združljivosti nadomestila za SSGP se presodi na podlagi člena 106(2) PDEU in okvira o SSGP.
Scope of the assessment based on the tasks entrusted in the management contracts
Obseg presoje, določen na podlagi pooblastila, podeljenega s pogodbami o upravljanju
In their submissions, the Belgian authorities and DPLP strongly opposed the Commission carrying out an overall analysis of all aid granted to DPLP over the entire period, in line with the approach it adopted previously for assessing other cases where aid was illegally paid in the past, as it assumes that the aid financed without distinction all the public service missions entrusted to the undertaking.
Belgijski organi in podjetje DPLP so v svojih pripombah močno nasprotovali temu, da bi Komisija na podlagi predhodno sprejetega pristopa za oceno drugih zadev v zvezi s pomočmi, ki so bile nezakonito izplačane v preteklosti, na splošno analizirala vso pomoč, dodeljeno podjetju DPLP v celotnem obdobju, kar bi pomenilo, da so bile s to pomočjo brez razlikovanja financirane vse naloge javne službe, za katere je bilo podjetje pooblaščeno.
The Belgian authorities and DPLP have contended that in the case at issue, unlike in others, the management contracts they entered into strictly delimit the scope of DPLP’s aided activities and the amounts of aid for which they were eligible [61].
Belgijski organi in podjetje DPLP so trdili, da so v obravnavani zadevi – v nasprotju z ugotovitvami iz drugih zadev – s pogodbami o upravljanju, ki so jih sklenili, natančno določeni območje dejavnosti podjetja DPLP, upravičene do pomoči, in zneski pomoči, za katere je bilo mogoče zaprositi v zvezi s temi dejavnostmi [61].
The Commission considers that the relevant management contracts rigorously define the respective rights and obligations of the State and the aid beneficiary by setting the parameters for calculating the compensation to which the beneficiary is entitled for the specific activities listed and for the periods of time indicated.
Komisija meni, da so z zadevnimi pogodbami o upravljanju natančno opredeljene pravice in obveznosti države in upravičenca do pomoči z določitvijo parametrov za izračun nadomestila, za katero lahko upravičenec zaprosi za posebne dejavnosti in obdobja, navedene v pogodbah.
Accordingly, the Commission will base its assessment on the provisions laid down in the various management contracts.
Zato bo njena ocena temeljila na določbah posameznih pogodb o upravljanju.
The SGEIs for which the compatibility of aid is to be checked are defined in the acts of entrustment established by the Member State.
SSGP, za katere je treba nadzirati združljivost pomoči, so opredeljene v pooblastilih, ki jih določi država članica.
The public service missions to be discharged by DPLP are entrusted to it in the successive administrative acts approving the management contracts signed between DPLP and the State approximately every five years.
Podjetje DPLP je za naloge javne službe, ki jih mora opravljati, pooblaščeno z zaporednimi upravnimi akti, s katerimi se potrdijo pogodbe o upravljanju, ki jih podpiše z državo približno vsakih pet let.
These contracts develop and complement the provisions of national postal law.
S temi pogodbami se razvijajo in dopolnjujejo določbe nacionalnega poštnega zakona.
Each successive management contract constitutes a separate act of entrustment, which describes the public missions to be discharged by DPLP, fixes the duration of the entrustment and the parameters for calculating the compensation to be paid by the State.
Z vsako od zaporednih pogodb o upravljanju je podeljeno ločeno pooblastilo, v okviru katerega so opisane naloge javne službe, ki jih mora opravljati podjetje DPLP, določeni pa so tudi parametri, na podlagi katerih se izračuna nadomestilo, ki ga izplača država.
The management contracts specify the activities included in the calculation of the amount of financial compensation granted by the State.
V pogodbah o upravljanju so natančno določene dejavnosti, ki se upoštevajo pri izračunu višine denarnega nadomestila, ki ga dodeli država.
The compatibility of the aid measures must be considered in the light of Article 106(2) TFEU since the compensation was granted to finance the costs incurred in discharging the public service missions.
O združljivosti ukrepov pomoči je treba presojati na podlagi člena 106(2) PDEU, saj je bilo nadomestilo dodeljeno za financiranje stroškov, nastalih zaradi opravljanja nalog javne službe.