natgillin/translations-raw huggingface dataset:
In fact, DSU's supervisory council studied and approved the capital injection into Elan at an extraordinary session on 11 July 2008 and partially amended its decision at two extraordinary sessions on 26 August 2008 and 8 September 2008 [29].
Na podlagi zgoraj navedenih argumentov Komisija ugotavlja, da ukrep 2 vključuje državno pomoč podjetju Elan v smislu člena 107(1) PDEU.
As Slovenia owns DSU, it can be assumed that it is in a position to control the company and that in principle, DSU's resources can be considered state resources.
Slovenija ni spoštovala obveznosti zamrznitve ukrepov iz člena 180(3) PDEU.
Contrary to Slovenia's view, the fact that the funds used for the capital injection stem from dividends, interests and other revenues of DSU, does not change this conclusion, as explained in recital (104).
Člen 107(2) in (3) PDEU določa izjeme od splošnega pravila, da je državna pomoč nezdružljiva z notranjim trgom, kot določa člen 107(1) PDEU.
Concerning the imputability of Measure 2, it has to be taken into account that all three members of the supervisory council at the time of granting were appointed by Slovenia, the sole shareholder of DSU, and that the supervisory council actually had to agree to the transaction.
V zvezi s tem je treba opozoriti, da dokazno breme združljivosti pomoči z notranjim trgom na podlagi odstopanja od določb člena 107(1) PDEU, primarno nosi zadevna država članica, ki mora dokazati, da so pogoji za tako odstopanje izpolnjeni [35].
As set out above, the influence of political considerations on DSU's decision making is acknowledged in […] valuation report of 22 December 2006 [30].
Komisija ocenjuje združljivost ukrepa 2 z notranjim trgom na podlagi teh izjem.
Also the fact that together with KAD in 2010 DSU transferred its Elan shares to the PDP holding company has to be seen in the light of the explanations provided above concerning the question of how the Slovenian government decided to deal with parastate investments that had become strategic because the state wished to provide assistance to them in overcoming their difficulties.
Glede na to, da je bil zadevni ukrep odobren podjetju v težavah (glej točko 5.1 zgoraj), Komisija najprej ocenjuje združljivost ukrepa v skladu s smernicami za reševanje in prestrukturiranje.
In connection with the other over-arching circumstances speaking in favour of the public authorities' involvement in the adoption of the measure or the unlikelihood of their not being involved, the Commission considers that DSU would not have injected the capital in the absence of the public authorities' influence on its decision making.
Potem presodi, ali se ukrep lahko šteje za združljivega na kakršni koli drugi podlagi.
Therefore, it is concluded that the DSU capital injection in 2008 into Elan consists of state resources and is imputable to Slovenia.
Smernice za reševanje in prestrukturiranje
Zavarovalnica Triglav is not directly owned by Slovenia.
V skladu s točko 33 smernic za reševanje in prestrukturiranje so do odobritve pomoči za reševanje ali prestrukturiranje upravičena samo podjetja v težavah.
The Commission observes, however, that Slovenia indirectly owns two third of Zavarovalnica Triglav (see recital (14)).
Elan je upravičen do pomoči, saj se lahko šteje, da je bil v času druge dokapitalizacije podjetje v težavah (glej uvodno izjavo (74)).
Its majority shareholders are ZIPZ, the Pension and Disability Insurance Institute and SOD, the Slovenian indemnity corporation.
V skladu s smernicami za reševanje in prestrukturiranje mora pomoč za reševanje izpolnjevati nekatere zahteve, ki pri zadevnem ukrepu niso izpolnjeni:
Both are 100 % state owned.
ukrep ni bil odobren v obliki posojila ali poroštva za posojilo, temveč kot dokapitalizacija (točka 25(a) smernic za reševanje in prestrukturiranje);
None of the other shareholders has a share higher than 1,8 % in Zavarovalnica Triglav.
ukrep ni prenehal v obdobju največ šestih mesecev po izplačilu prvega obroka (točka 25(a) smernic za reševanje in prestrukturiranje);
Five of the eight members of the supervisory board of Zavarovalnica Triglav, including its president and vice-president, represent the shareholders and are appointed by them.
Slovenija ni najkasneje šest mesecev po prvi izvedbi ukrepa predložila načrta za prestrukturiranje ali načrta za likvidacijo ali dokazila, da je poroštvo prenehalo (točka 25(c) smernic za reševanje in prestrukturiranje).
As described in recital (14), the majority shareholders of Zavarovalnica Triglav are 100 % state owned companies.
Zato se zadevna dokapitalizacija ne more šteti za pomoč za reševanje.
Therefore, it is in principle the State who appoints these five members of the supervisory board and the supervisory board members represent the State's interest.
Ukrep prav tako ne izpolnjuje vseh zahtev za pomoč za prestrukturiranje iz smernic za reševanje in prestrukturiranje, saj niso bili sprejeti izravnalni ukrepi, ki bi lahko izravnali škodljivi učinek pomoči na trgovinske pogoje.
The Commission notes that it was the management board of Zavarovalnica Triglav which voted for the capital increase in Elan's general assembly on 28 August 2008, but it did so under the condition that the supervisory board would give its consent to the transaction.
V skladu s točkami 38 do 42 smernic za reševanje in prestrukturiranje morajo prestrukturiranje spremljati izravnalni ukrepi, sorazmerni z izkrivljajočimi učinki pomoči in zlasti z velikostjo in relativno pomembnostjo upravičenca na njegovem trgu.
In fact, the supervisory board agreed to the capital injection on 4 September 2008 [31].
V točki 40 smernic je določeno, da je izravnalne ukrepe treba izvajati zlasti na tistem trgu ali trgih, kjer bo imelo podjetje po prestrukturiranju pomemben tržni položaj.
As Slovenia owned indirectly two third of the shares in Zavarovalnica Triglav, it can be assumed that it is in a position to control the company and that in principle, Zavarovalnica Triglav's resources can be considered state resources.
Slovenija trdi, da so imele nekatere odsvojitve, ki jih je Elan izvedel v letih 2009 in 2010, izravnalni učinek.
Attention has to be given to the fact that the State appoints the majority of the supervisory board members of Zavarovalnica Triglav, including the president and the vice-president, and that the supervisory board had to give its consent to the capital injection.
PDP poudarja, da je Elan v letu 2010 prodal 448000 parov smuči in 217000 snežnih desk, da Elan proizvede 13 % vseh smuči na svetu in da je bil kot svetovna blagovna znamka na sedmem mestu, saj je tržni delež njegove blagovne znamke zajemal približno 8 % svetovnega trga.
In connection with the other over-arching circumstances discussed above that clearly speak in favour of the public authorities' involvement in the adoption of the measure or the unlikelihood of their not being involved, the measure is considered imputable to Slovenia,
Slovenija ni ponudila nobene posebne opredelitve proizvodnega ali geografskega trga oziroma trgov, na katerih je dejavna Elanova zimska divizija.
Triglav Naložbe is not directly owned by Slovenia.
Kot je podrobneje opisano v nadaljevanju, je ob upoštevanju informacij, ki jih je predložila Slovenija, in ob upoštevanju pomislekov v zvezi z opredelitvijo trga, ki izhajajo iz prakse v primerih združitev [37], treba skleniti, da je Elan dejansko imel pomembne tržne deleže vsaj na nekaterih od zadevnih upoštevnih trgov.
The Commission observes, however, that Slovenia indirectly owns the majority of Triglav Naložbe shares.
Komisija je preučila razpoložljive dokaze, vključno s strateškimi dokumenti, ki jih je sestavil sam Elan, da bi ocenila relativno pomembnost podjetja na trgih, na katerih je dejavno.
At the time of granting the measure, Zavarovalnica Triglav owned effectively 80 % of the shares of Triglav Naložbe.
Elan poleg dodatne opreme proizvaja zlasti alpske smuči in snežne deske.
Therefore, indirectly, Slovenia holds more than 51 % of the shares of Triglav Naložbe.
Opozoriti je treba, da je v zadevi št.
As the State indirectly is the majority shareholder in Triglav Naložbe, it has to be considered that the State can decide who is nominated into the supervisory board to represent Slovenia's interest.
Podjetje je v svojem Razvojnem načrtu Elan Ski OEM 2006–2010 navedlo, da je imelo leta 2005 21-odstotni svetovni tržni delež proizvodnje smuči v okviru OEM, in pojasnilo: „[…]“ V Razvojnem načrtu Elan Sportartikel 2006–2010 je zapisano, da je Elan samega sebe štel za vodilnega proizvajalca snežnih desk na svetu s proizvodnjo 268000 snežnih desk v letu 2005 (16-odstotni svetovni tržni delež).
The supervisory board of Triglav Naložbe had to agree to the capital injection into Elan, and did so on its 7th extraordinary meeting on 3 September 2008 [32].
Velika večina te proizvodnje je bila del poslov OEM, 30000 snežnih desk pa je bilo v letu 2005 prodanih pod Elanovo blagovno znamko.
As Slovenia indirectly owned the majority of Triglav Naložbe, it can be assumed that it was in a position to control the company and that in principle, Triglav Naložbe's resources can be considered state resources.
V zvezi s smučmi Elanove blagovne znamke je v Razvojnem načrtu za tržno in na blagovno znamko osredotočeno strategijo penetracije za Elanovo blagovno znamko 2006–2010 zabeležen 7,5-odstotni svetovni tržni delež, ki je Elan postavil na sedmo mesto po velikosti tržnega deleža.
Contrary to Slovenia's view, the fact that the funds used for the capital injection stem from a loan does not change this conclusion, as explained in recital (104).
Vendar pa je v dokumentu navedeno prepričanje podjetja, da bi mu srednjeročno lahko uspel preboj med prvih pet blagovnih znamk […].
Keeping in mind that the State appoints all the supervisory board members of Triglav Naložbe and that the supervisory board had to give its consent to the capital injection, in connection with the other over-arching circumstances discussed above that clearly speak in favour of the public authorities' involvement in the adoption of the measure or the unlikelihood of their not being involved, the measure is considered imputable to Slovenia
Glede na to, da zimska divizija Elanu prinaša daleč največji del prihodkov in da je, kot je opisano zgoraj, Elan imel močan položaj vsaj v nekaterih sektorjih za zimske športe, bi morali biti izravnalni ukrepi osredotočeni predvsem na to področje.
Conclusion
Preučevanje elementov, ki jih je Slovenija navedla kot izravnalne ukrepe v zimski diviziji, je pokazalo, da je bila edina odsvojitev prodaja [17,5–20] % v skupnem podjetju za distribucijo, ki ga je imel Elan s partnerjem Dal Bello Sports (v nadaljnjem besedilu: Dal Bello) v ZDA.
The composition of the supervisory boards of Elan's shareholders and the fact that the supervisory boards had to agree to the capital injection in 2008 already suggest that the measure in question is imputable to the State [33].
Odsvojitev je bila posledica prenehanja skupnega podjetja za trženje in distribucijo s podjetjem Dal Bello v Severni Ameriki.
Furthermore, the Commission has strong indications — as set out above — for the State's close involvement in the decision-making of KAD — Elan's by far most important shareholder that controlled 57,61 % of the capital at the time of the capital injection — and DSU.
Elan trdi, da je prenehanje sodelovanja povzročilo zmanjšanje Elanove prodaje v Kanadi in ZDA, kar vidi kot „izravnalni učinek“.
These indications derive from the OECD report, the report of […], documents published by the Slovenian government, and press reports.
Najprej je treba opozoriti, da niti dolgoročni načrt 2008–2012 niti sanacijski načrt ne navajata prodaje deleža v Dal Bello, zato prodaje ni mogoče obravnavati kot „sestavnega dela prestrukturiranja“, kot je predvideno v točki 40 smernic za reševanje in prestrukturiranje.
In addition, the parallel behaviour of Elan's five shareholders that were all controlled by the State gives an indication of the State's involvement in the shareholders' decision, as it seems unlikely that five private and independent operators would have agreed to inject capital in a company in difficulty at the same time and at the same conditions.
Podrobnejša proučitev posla je pokazala, da je bilo sodelovanje na področju trženja in distribucije prekinjeno na pobudo podjetja Dal Bello.
In light of the above it is concluded that Measure 2 consists of state resources and was imputable to Slovenia.
Slovenija je priznala, da „so Elanove težave v letu 2008 in Dal Bellovo iskanje zanesljivejšega dolgoročnega partnerja pripeljali do pogovorov o prenehanju sicer uspešnega sodelovanja.
It is considered that the entire Elan group must be regarded as beneficiary of the capital increase in 2008 for the same reasons as for Measure 1 (see recitals (87)-(90)).
Rezultat teh pogovorov je bil dogovor o prenehanju skupnega podjetja z dne 14. decembra 2009 …“ Glede na zgoraj navedeno Elanove odsvojitve že iz tega razloga ni mogoče šteti za izravnalni ukrep.
As described above, a market investor would attempt to maximise the return on its assets (see recital (91)).
Poleg tega zmanjšanje prodaje, ki povzroči zmanjšanje tržnega deleža upravičenca, v drugih okoliščinah lahko šteje kot izravnalni ukrep, vendar pa Komisija ugotavlja, da se je v zadevnem primeru prodaja nanašala na maloprodajni trg, ki ga je Komisija prej štela za nacionalnega [39], in da se je prodaja Elanovih smuči v vsakem primeru zmanjšala samo na severnoameriškem trgu, ne pa tudi na evropskem trgu oziroma trgih, tako da ne more izravnati izkrivljanj, povzročenih v EGP.
In this context, the Commission first notes that Elan was facing difficulties in the meaning of the Rescue and Restructuring Guidelines when Measure 2 was granted (see recital (74)).
Poleg tega je bilo skupno podjetje dejavno na področju trženja in distribucije smuči, ne pa njihove proizvodnje.
In addition, according to Slovenia, Elan was facing insolvency in the beginning of 2008, and had a liquidity shortfall of EUR [12,6-15 million].
Elanova ključna dejavnost pa je proizvodnja smuči in snežnih desk.
Slovenia argues that Elan's shareholders based their decision to inject additional capital on several documents drawn up by Elan and external advisers, showing that the decision was justified.
Samo odsvojitve na glavnem trgu upravičenca se lahko štejejo kot ustrezni izravnalni ukrepi.
While it is true that Elan drew up a long-term plan 2008-2012 for the group, it has to be considered that this plan foresaw a capital increase of EUR 25 million as a basis for achieving adequate returns in the future and Elan's shareholders considered this long-term plan as inadequate for carrying out a capital injection of that amount.
Slovenija je poleg tega navedla, da se kot izravnalna ukrepa lahko štejeta tudi zmanjšanje števila zaposlenih v proizvodnji smuči in zmanjšanje naložb v trženje.
The Rehabilitation plan of August 2008 consisted mainly of forecasts and did not provide information on the planned capital increase.
Vendar pa je treba ta ukrepa razumeti kot preprosto racionalizacijo, namenjeno zmanjševanju stroškov in izboljševanju učinkovitosti, da bi ponovno dosegli finančno rentabilnost, na kar kažeta tudi Elanov dolgoročni načrt in njegov sanacijski načrt.
Both, the long-term plan 2008-2012 and the Rehabilitation plan were set up byElan, without the involvement of an external adviser.
Ukrepa nista bila sprejeta z namenom zmanjšati Elanovo prisotnost na trgu ali izravnati morebitna izkrivljanja konkurence, ki jih je povzročila pomoč, ki jo je prejel Elan.
Another document provided by Slovenia in relation to the second capital increase was a flash estimate of the value of Elan, prepared by KAD, dated July 2008.
Slovenija je navedla, da so imele v morskem sektorju izravnalni učinek naslednje odsvojitve: leta 2009 je Elan prodal dve podjetji, ki sta se ukvarjali z oddajanjem jaht v najem, tj. Elan Yachting d.o.o. in Elan Marine Charter d.o.o.
This document does, however, not support Slovenia's argument that Elan's shareholders acted like prudent investors, as according to that estimate, if potential liabilities are taken into account Elan had a negative equity value amounting to EUR [29,5-34] million in July 2008.
Leta 2010 je bilo prodano podjetje na Hrvaškem Elan Brod d.o.o., ki se je ukvarjalo predvsem s proizvodnjo motornih plovil.
Moreover, the flash estimates points out that the projections in Elan's long term plan 2008-2012 may be greatly overoptimistic in view of previous experiences, in which case the company's value would be even lower.
Slovenija je zatrdila, da podjetja strukturno niso poslovala z izgubo, da so dejavnosti oddajanja v najem, ki sta jih opravljali podjetji Elan Yachting d.o.o. in Elan Marine Charter d.o.o., podpirale prodor Elanovih jaht na Elanove glavne trge in da je umik iz tržnega segmenta motornih plovil bistveno zmanjšal Elanovo prisotnost na trgu rekreativnih in športnih plovil.
Slovenia also submitted an equity valuation of Elan following the discounted cash flow method.
Komisija opozarja, da bi se v skladu s točko 40 smernic za reševanje in prestrukturiranje izravnalni ukrepi morali izvajati zlasti na tistem trgu ali trgih, kjer bo imelo podjetje po prestrukturiranju pomemben tržni položaj.
This equity valuation, prepared by […]. in June 2008, considered that Elan's market value at 31 December 2007 had still been positive, amounting to EUR [35-40] million.
Odpis dolgov in opustitev deficitnih dejavnosti, ki bi ju bilo v vsakem primeru treba izvesti zato, da se obnovi sposobnost podjetja za preživetje, ne štejeta za zmanjševanje zmogljivosti z namenom ocenitve izravnalnih ukrepov.
However, as described above (see recitals (70) to (74)), Elan's situation deteriorated drastically in the course of the year 2008.
Upoštevati je treba, da morska divizija ni glavna dejavnost Elana.
In the light of these developments the above equity valuation has to be considered outdated on 28 August 2008 when Elan's shareholders decided on the capital injection and cannot be relied on to show that Elan's shareholders acted like prudent market investors, in particular when considering the circumstances of the second capital injection.
Bistveno večji del prometa podjetje ustvari v svoji zimski diviziji.
As described in recital (32), the shareholders made any capital increase conditional on the prior agreement of the banks to reschedule Elan's existing loans.
V skladu s finančno napovedjo za leto 2011 naj bi skupni prihodki morske divizije v letu 2011 znašali le [20-24] milijona EUR v primerjavi s [58-68] milijona EUR v športni diviziji.
Although such an agreement could not be reached prior to the capital increase, Elan's shareholders went ahead with the capital injection as Elan would otherwise have had to go into bankruptcy.
Komisija je, da bi v celoti preučila argumente, ki jih je predstavila Slovenija, kljub temu preverila, v kolikšni meri bi Slovenija lahko zatrjevala, da so bili v morski diviziji sprejeti ustrezni izravnalni ukrepi.
If the banks had agreed to reschedule the loans prior to the capital increase, this could have been a sign that they believed in a return to viability of Elan.
Pred prestrukturiranjem je Elanova maksimalna proizvodna zmogljivost znašala [280-330] jadrnic in [45-55] motornih plovil.
However, this was not the case, and on the contrary, one of the banks even asked for a court order to enforce outstanding debts against Elan.
Slovenija ni ponudila nobene posebne opredelitve proizvodnega ali geografskega trga oziroma trgov za morsko divizijo, v skladu s katero bi bilo mogoče meriti njeno relativno pomembnost.
The bank's stance can be considered a sign that the market did not believe in Elan's return to viability.
V svojih predloženih dokumentih piše o zmanjšanju Elanove prisotnosti na „trgu rekreativnih in športnih plovil“, hkrati pa se sklicuje na njegov umik iz „tržnega segmenta motornih plovil“.
Moreover, it also has to be taken into account that already in 2007 the shareholders had injected EUR 10,225 million in Elan, without success.
Vendar pa analiza razpoložljivih dokumentov, ki obravnavajo konkurenčni položaj Elanove morske divizije, vključno s strateškimi dokumenti, ki jih je pripravil sam Elan, daje dodaten vpogled v relativno pomembnost podjetja na morskem trgu.
It should be clarified that, although the 2007 capital injection was based on a so-called strategic development plan under which Elan had originally asked for investments of EUR 20,2 million, the 2008 capital injection of EUR 10 million cannot be considered a second investment tranche pursuant to the original strategic development plan.
V Razvojnem načrtu Elan Marine Division 2006–2010 je bilo navedeno, da je bil svetovni trg vseh novih plovil vreden okrog 25 milijard EUR ter da so približno 80 % te vrednosti pomenila motorna plovila, 20 % pa jadrnice, pri čemer naj bi enako razmerje veljalo tudi v Evropi.
The 2008 capital injection was necessary to avoid insolvency by covering Elan's liquidity shortfall and losses incurred, the capital was not devoted to the purposes set out in the strategic development plan (see recital (23)).
Elan je trg opisal kot „močno razdrobljen“ in tržni delež svojega programa jadrnic v EU ocenil na približno [0-5] %, delež svojega programa motornih plovil pa na manj kot 1 %.
Finally, the Commission notes that all shareholders at the time of granting the measure were state owned, i.e. that no private shareholder took part in the capital increase.
Razvojni načrt je kljub temu opozoril na obstoj različnih tržnih segmentov, na katerih so veljali različni konkurenčni pogoji, med drugim tudi vstopne ovire.
In light of the above, the Commission concludes that Measure 2 was not granted in conformity with the private market economy investor principle and conferred an advantage to Elan.
Elanov dolgoročni načrt 2008–2012 iz junija 2008 je trg plovil razdelil po dolžini plovil in navedel, da je bila konkurenca največja v segmentu malih plovil (30 čevljev), medtem ko je Elan proizvajal in prodajal plovila srednje velikosti (dolžine 30 do 50 čevljev) ter nameraval […] razviti nove modele […].
The Commission notes that the beneficiary is active on markets that are open to competition.
Najjasneje je Elanov tržni delež v segmentu, v katerem je po lastni oceni konkurenčen, opredeljen v predstavitvi Elanovega trenutnega največjega družbenika PDP: „Elan je v letu 2010 v segmentu jadrnic dolžine od 32 do 60 čevljev (ki pomeni 20 % navtičnega trga) prodal 122 plovil in s tem dosegel 5,2-odstotni tržni delež“.
Contrary to Slovenia's view it is not relevant in this context whether Elan's competitors had a bigger market share than Elan or whether those competitors also received funds from their shareholders.
Glede na to, da ni nasprotujočega mnenja, Komisija lahko za namene tega sklepa sprejme oceno PDP, da je imel Elan na razdrobljenem trgu jadrnic tržni delež, ki je bil večji od 5 %.
When aid granted by a Member State strengthens the position of an undertaking compared to other undertakings competing in intra-Union trade, the latter must be regarded as affected by that aid [34].
Na podlagi zgoraj navedenega bi tudi v primeru, da bi za namen Komisijine ocene združljivosti lahko upoštevali Elanove odsvojitve v morski diviziji, izravnalni ukrepi znotraj morskega sektorja morali biti izvedeni na področju proizvodnje jadrnic, ki je bilo očitno glavna dejavnost Elanove morske divizije in kjer je podjetje imelo, kot je opisano zgoraj, nezanemarljiv delež trga, ki je bil po Elanovi besedah „močno razdrobljen“.
Indeed, there is trade between Member States in skiing equipment and marine oriented crafts, which are the goods that the beneficiary manufactures and markets.
Odsvojitev dejavnosti oddajanja plovil v najem, ki so kvečjemu posredno podpirale Elanovo prodajo jaht, in odsvojitev proizvodnje motornih plovil, to je sektorja, ki ga je Elan popolnoma zapustil s prodajo podjetja Elan Brod d.o.o., tako nista v skladu s točko 40 smernic za reševanje in prestrukturiranje.
In light of the above, the Commission concludes that Measure 2 might distort competition and might have an effect on trade.
Elan je začel proizvajati motorna plovila šele leta 2002 ter nameraval v tem sektorju izkoristiti ugled, ki ga je pridobil v sektorju jadrnic.