natgillin/translations-raw huggingface dataset:
The tax and social security write-offs will be decided by the CCSF.
Zato je tržna obrestna mera izračunana na podlagi sporočila o referenčnih obrestnih merah iz leta 2008, in sicer znaša 10,53 % (0,53 % za referenčno obrestno mero Francije v času odobritve posojila + 1000 baznih točk).
This Committee is chaired by the Director of the Departmental Tax Office.
Za tranšo 1 (65 milijonov EUR) je znesek pomoči enak razliki med obrestno mero, izračunano na podlagi sporočila o referenčnih obrestnih merah iz leta 2008 (10,53 %) in obrestno mero, ki jo uporablja Francija (3,5 %), tj. 21,77 milijona EUR.
The FDES loan, the grant, the repayable advances and the write-off of tax and social security debts are therefore provided through public resources and granted by way of decisions taken by the state.
Dejansko so se ta vračljiva predplačila štela za posojila pri izračunu diskontiranega zneska pomoči, ta način izračuna pa je bil uporabljen tudi za izračun posojila FDES.
Selectivity
Za vsak plačilni rok (vsako leto) se izračuna razlika med prihodki od efektivnih obresti na kapital (3,5 %), ki ga je še treba plačati, in prihodki od obresti na kapital (10,53 %), ki ga Komisija uporablja za preostanek kapitala.
The measures under investigation are one-off measures granted exclusively to Kem One for the purposes of its recovery.
Tako pridobljeni zneski (skupaj sedem zneskov za sedemletno obdobje odplačila „posojila“) so bili nato diskontirani in sešteti, njihova vsota pa je bila 21,77 milijona EUR.
Presence of an economic advantage
Prav tako je za tranšo 2 (15 milijonov EUR) znesek pomoči enak razliki med obrestno mero, izračunano na podlagi sporočila o referenčnih obrestnih merah iz leta 2008 (10,53 %) in obrestno mero, ki jo uporablja Francija (10 %), tj. 1,64 milijona EUR.
Whenever the financial situation of an undertaking is improved as a result of state intervention, an economic advantage is present.
Tako skupni znesek gospodarske prednosti zaradi tega ukrepa znaša […] EUR.
However, intervention by a public authority does not confer an advantage on the beneficiary, and as such does not constitute aid, if it is carried out under normal market conditions, in other words, if the public authority has acted as an operator in a market economy would have done in similar circumstances.
Najprej je treba opozoriti, da je v svojem odgovoru na sklep o začetku postopka Francija pojasnila, da socialne in davčne terjatve ne znašajo 42 milijonov EUR, kot je bilo navedeno v priglasitvi, ampak znašajo […] EUR.
Value of collateral.
Gre za znesek 42 milijonov EUR, ki ga je zelo okvirno ocenila socialna in davčna uprava, še preden je bil opravljen natančen popis dejanskih terjatev, ter ga začasno prijavila v okviru stečajnega postopka, ki ga je začelo gospodarsko sodišče v Lyonu.
Following the launch of proceedings, France sent the Commission a list of the assets constituting France's first-rank collateral.
Večina dolgov do zasebnih upnikov je bila odpisana do najmanj 70 %.
It provided a report evaluating these assets, which had been drawn up by independent experts.
Odpise terjatev, ki sta jih sprejela [zasebni subjekt 3] in [zasebni subjekt 1], je treba analizirati ločeno.
The report calls for three remarks.
Ta upnika sta trgovinska partnerja, ki sta tesno povezana z družbo Kem One.
First, the Commission would point out that the report contains an evaluation of Kem One's real estate and not of the plant and equipment it had pledged.
[…] in nekateri proizvodi iz Lavére (CVM, klorirani ostanki, kloroform) so bistveni za [zasebni subjekt 1] zaradi vertikalne integracije v proizvodni verigi fluoriranih plinov, ki vključuje lokacije na jugu Francije, tj. Lavéra, Saint-Aubain in Pierre-Bénite.
Next, the experts evaluated the assets at EUR [110-120] million, which is EUR [20-30] million less than the net book value put forward by France, confirming the Commission's doubts about whether the net book value actually reflects the real value of the assets.
Te proizvodnje je zelo težko nadomestiti z bolj oddaljenimi viri teh proizvodov.
Lastly, the report dates from July 2012, i.e. before the opening of the court-supervised administration procedure in March 2013.
Naprave [zasebnega subjekta 3] so s cevovodi povezane z družbo Kem One.
When an undertaking is in difficulty and finds itself forced to sell its assets, its weak position and the urgency of the situation generally result in the assets being sold at below market price.
Poleg tega industrijski partnerji poznajo svojo stranko in so nujni za delovanje te družbe in njeno kontinuiteto.
In its reply, France incidentally referred to the value of transactions that took place in 2014 in the PVC sector.
Zato želijo ostati povezani s to družbo in se strinjajo z odpisom terjatev, za razliko od zgolj finančnega upnika, katerega edini cilj je izterjati svojo terjatev.
While this type of comparison may have some value in a broad sense, neither Vestolit nor Vinnolit were undertakings in difficulty at the time of their acquisition, unlike Kem One.
Glede na poseben položaj obeh upnikov, je povprečna stopnja odpisa terjatev v višini […] % nesprejemljiva.
Moreover, the transactions involved the entire undertakings and not just plant and equipment.
Zato so se vsi drugi upniki strinjali z odpisom terjatev v višini 70 % (tj. 368 upnikov za skupni znesek 33,4 milijona EUR).
Accordingly, the comparison is not relevant here.
Ti upniki nimajo nikakršnih privilegijev ali zavarovanja s premoženjem in zato niso v položaju, ki je primerljiv s položajem davčnih in socialnih upnikov.
The Commission had asked France to provide an estimate of the value of the pledged assets in terms of the net revenue that their use could bring in.
Zato je Francija s sprejetjem odpisa […] % dolgov, ki se lahko odpišejo, presegla to, kar so sprejeli zasebni upniki.
However, France provided an evaluation of the undertaking as a whole, and not of the pledged assets alone.
Vendar Francija pojasnjuje, da se z odobritvijo odpisa terjatev v višini […] EUR prepreči morebitno izgubo […] EUR.
What is more, to determine the future value of the undertaking in 2014, 2015 and 2016, it took into account the very same investments to convert the electrolysis units at Lavéra which were to be financed by the FDES loan.
Sicer pa je razlika v višini […] EUR majhna v primerjavi z nepovratno izgubljenimi zneski ([…] EUR), zlasti glede na negotovost izgube v višini […] EUR.
In sum, to calculate the amount of the collateral securing the FDES loan, France included the value of an asset modernised thanks to that very loan.
Zdi se, da ta rešitev verjetno ne bi bila sprejemljiva za zasebnega upnika v tržnem gospodarstvu.
Accordingly the evaluation cannot be considered.
Ob upoštevanju teh elementov je znesek pomoči enak razliki med stopnjo odpisa terjatev, ki ga uporablja Francija ([…] % oziroma […] EUR) in stopnjo odpisa terjatev zasebnih vlagateljev (70 % oziroma […] EUR), kar znaša […] EUR.
Lastly, in its reply to the opening decision, France did not provide any evidence that could allay the Commission's doubts about certain outdated and underperforming, or even obsolete, plant pledged by France.
Učinek na konkurenco in trgovino med državami članicami
Accordingly, a conservative approach should be adopted and the collateral regarded as ‘weak’ within the meaning of the 2008 Reference Rate Communication for the purposes of determining a level of remuneration for the FDES loan in accordance with market conditions.
Ukrepi javne podpore dajejo prednost družbi Kem One s tem, da ji zagotavljajo dodatna finančna sredstva, tako da ji ni treba prenehati delovati.
Level of remuneration.
To ji namreč omogoča, da ohrani močnejši konkurenčni položaj, kot bi ga imela, če pomoči ne bi bilo.
Moreover, no bank has granted a loan to Kem One on the same terms as the state.
Poleg tega v teh različnih sektorjih poteka veliko trgovinskih izmenjav med državami članicami na evropskem ozemlju.
Accordingly, and as indicated in paragraph 92 of the opening decision, in the absence of available and satisfactory real market data, the Commission should determine the applicable rate pursuant to the 2008 Reference Rate Communication, which states: ‘The reference and discount rates are applied as a proxy for the market rate and to measure the grant equivalent of aid’.
Trg za PVC je precej skoncentriran: pet subjektov, vključno z družbo Kem One, predstavlja 90 % trga, družba Kem One pa je tretja na lestvici evropskih proizvajalcev S-PVC.
As has been demonstrated, the collateral constituted to secure the FDES loan cannot be classed as strong, and therefore does not justify application of the 400 basis points, as advocated by France.
Komisija je v preteklosti že ugotovila, da geografski obseg tega trga zajema vsaj severozahodno Evropo, kar pomeni sorazmerno enotne konkurenčne pogoje na tem območju [19].
Moreover, France has not provided any new evidence to support the view that the effective implementation of the recovery plan and Kem One's commitment to sound financial management, rather than constituting habitual obligations and compensations accompanying a restructuring measure, justify a remuneration below market rate.
Zato obravnavani ukrepi v korist podjetja, ki deluje na trgu, ki je odprt za konkurenco in je sorazmerno skoncentriran, pomenijo prednost, ki bi lahko izkrivlja konkurenco in vplivala na trgovino med državami članicami.
Lastly, the comparison with [private operator 2]‘s factoring agreement is irrelevant, as the debtor is not Kem One, but its debtors.
Sklep glede obstoja državne pomoči v smislu člena 107(1) PDEU
In view of its financial difficulties, Kem One must be regarded as a CCC-rated undertaking within the meaning of the 2008 Reference Rate Communication.
Glede na predstavljene elemente Komisija ugotavlja, da obravnavani ukrepi skupaj pomenijo državno pomoč v smislu člen 107(1) PDEU v skupnem znesku v višini 49,27 milijona EUR.
Likewise, the collateral must be classed as 'weak’ within the meaning of the same Communication.
OCENA ZDRUŽLJIVOSTI UKREPOV Z VELJAVNIMI PRAVILI O DRŽAVNI POMOČI
In the absence of any evidence that would call into question the interest rates set out in the 2008 Reference Rate Communication, the Commission takes the view that the market rate can be calculated in accordance with it, giving a rate of 10,53 % (0,53 % for the reference rate for France at the time the loan was granted + 1000 basis points).
Veljavna pravna podlaga
Amount of aid.
Prepoved dodelitve državne pomoči iz člena 107(1) PDEU ni niti absolutna niti brezpogojna.
In line with its previous decision-making practice, the Commission considers that the amount of aid is equivalent to the difference between the interest rate calculated in accordance with the 2008 Reference Rate Communication (10,53 %) and the interest rate applied by France (3,5 %).
Zlasti odstavka 2 in 3 člena 107 PDEU tvorita pravno podlago, ki omogoča, da se nekatere vrste pomoči šteje za združljive z notranjim trgom.
For each due date (each year), the difference has been calculated between the return from the actual interest rate (3,5 %) on the remaining capital and the return from the interest rate applied by the Commission (10,53 %) on the remaining capital.
V obravnavanem primeru Komisija meni, da so pomoči, priglašene v izključno korist družbe Kem One, namenjene ponovni vzpostavitvi dolgoročne sposobnosti preživetja podjetja v težavah.
The amounts obtained (seven in total, for the seven-year loan repayment period) have then been discounted and added up to arrive at a figure of EUR […].
Ker so bili zadevni ukrepi priglašeni 30. julija 2014 in evidentirani pred 1. avgustom 2014, se bodo obravnavali na osnovi smernic iz leta 2004.
The grant.
Zato je treba preučiti, ali bi se ukrepi lahko šteli za združljive z notranjim trgom na podlagi člena 107(3) PDEU v skladu z merili, določenimi v smernicah iz leta 2004.
The Commission is of the opinion that a grant constitutes an economic advantage that the beneficiary would not obtain under market conditions.
Upravičenost družbe Kem One do pomoči za prestrukturiranje
A private lender, which has a cost of financing and has to remunerate its capital, would not agree to finance a company by grants.
Nova družba K1 je bila ustanovljena za nakup in posedovanje delnic družbe Kem One v skladu z načrtom kontinuitete in sanacije, ki ga je potrdilo gospodarsko sodišče v Lyonu.
The aid amount is therefore equivalent to the grant in its entirety, namely EUR 15 million.
Tako družba K1 zagotavlja gospodarsko kontinuiteto družbe Kem One.
The repayable advances.
Komisija ne izpodbija upravičenosti družbe Kem One, da uporabi smernice iz leta 2004, na katere se sklicujejo francoski organi.
The Commission notes the presence of certain conditions relating to the granting of the advances that a private lender would probably not have required.
Družba Kem One je v stečajnem postopku od 27. marca 2013 in izpolnjuje merila iz točke 10 (c) smernic iz leta 2004.
These include in particular the condition relating to maintaining activity and jobs at the Lavéra site for five years after project completion, the sustainability of Kem One permitting, and with the prior agreement of the state.
Povratek k dolgoročni sposobnosti preživetja
However, the obligation to repay confirms that these repayable advances can be regarded as a loan for the purposes of this Decision.
Točka 17 smernic iz leta 2004 določa, da „prestrukturiranje, na drugi strani, temelji na izvedljivem, skladnem in daljnosežnem načrtu za obnovo dolgoročne sposobnosti preživetja podjetja.
As for the amount of aid, in the absence of available and satisfactory real market data (such as a bank loan actually granted to Kem One on the same terms as the repayable advances), the Commission should determine the applicable rate in accordance with the 2008 Reference Rate Communication.
Prestrukturiranje običajno vključuje enega ali več naslednjih elementov: reorganizacijo in racionalizacijo dejavnosti podjetja na učinkovitejšem temelju, ki običajno vključuje prenehanje deficitnih dejavnosti, prestrukturiranje tistih obstoječih dejavnosti, ki lahko znova postanejo konkurenčne, in po možnosti širitev v smeri novih in donosnih dejavnosti.
As it is an undertaking in difficulty, Kem One must be regarded as CCC-rated for the purposes of the Communication.
Fizično prestrukturiranje mora običajno spremljati še finančno prestrukturiranje (kapitalske naložbe, zmanjšanje dolgov).
Moreover, the advances are not secured by any collateral.
Vendar pa ukrepi za prestrukturiranje, na katere se nanašajo te smernice, ne smejo biti omejeni na finančno pomoč, namenjeno pokritju preteklih izgub, ne da bi se ugotavljali razlogi za te izgube“.
Accordingly, the market interest rate calculated in accordance with the 2008 Reference Rate Communication is 10,53 % (0,53 % for the reference rate for France at the time the loan was granted + 1000 basis points).
Poleg tega točka 34 in naslednje točke smernic iz leta 2004 določajo lastnosti, ki jih mora imeti načrt za prestrukturiranje, da se zagotovi združljivost dodeljene pomoči s pravili o državni pomoči.
For the first tranche (EUR 65 million) the amount of aid is therefore equal to the difference between the interest rate calculated in accordance with the 2008 Reference Rate Communication (10,53 %) and the interest rate applied by France (3,5 %), namely EUR 21,77 million.
Stroški, povezani s prestrukturiranjem
The repayable advances have been regarded as loans for the purposes of calculating the discounted amount of aid, resulting in a calculation method similar to that used for the FDES loan.
Med poglobljeno preiskavo je Komisija lahko preučila trditve, ki jih je Francija navedla v odgovoru na sklep o začetku postopka, zlasti glede odsotnosti stroškov za kadrovsko prestrukturiranje.
On each due date (each year), the difference is calculated between the return from the actual interest rate (3,5 %) on the remaining capital and the return from the interest rate applied by the Commission (10,53 %) on the remaining capital.
Francija je pojasnila, da bo od [90 – 110] načrtovanih ukinitev dejansko ukinjenih samo [35 – 45] delovnih mest.
The amounts obtained (seven in total, for the seven-year ‘loan’ repayment period) have then been discounted and added up to arrive at a figure of EUR 21,77 million.
Družba Arkema je potrdila, da bo prevzela [25 – 35] zaposlenih brez nadomestila, družba Kem One pa je izplačala nadomestila le [1 – 15] zaposlenim v skupnem znesku […] milijonov EUR.
Likewise, for the second tranche (EUR 15 million) the amount of aid is equal to the difference between the interest rate calculated in accordance with the 2008 Reference Rate Communication (10,53 %) and the interest rate applied by France (10 %), namely EUR 1,64 million.
Ta znesek je bil vključen v predvidene odbitke v izkazu poslovnega izida na začetku obdobja prestrukturiranja.
The total economic advantage granted under this measure therefore comes to EUR […].
Pri drugih ukinjenih delovnih mestih je šlo za prosta delovna mesta.
It should first be observed that in its reply to the opening decision, France clarified that the tax and social security debts came not to EUR 42 million as indicated in the notification but to EUR […].
Poleg tega sta Francija in družba Kem One potrdili, da prestrukturiranje ne bo povzročilo nobenih dodatnih stroškov.
The amount of EUR 42 million was a very broad estimate by the tax and social security authorities and had been declared provisionally as part of the administration procedure initiated by Lyon Commercial Court, before a detailed list of actual debts had been drawn up.
Trajanje načrta prestrukturiranja
As for debts to private creditors, most of them have been written off at least up to 70 %.
Kot odgovor na dvome, izražene v sklepu o začetku postopka, je Francija razložila, da se je obdobje prestrukturiranja začelo 5. februarja 2014, tj. na dan, ko je novi delničar prevzel dejavnosti družbe Kem One (prenos delnic Kem One Holding, nekdanje matične družbe družbe Kem One, na družbo K1, tj. holding, ki ima v imetju delnice družbe Kem One).
In this connection, the debt write-offs accorded by [private operator 3] and [private operator 1] should be analysed separately.
Prestrukturiranje se bo zaključilo 31. decembra 2016, to pa je tudi rok za zaključek projekta SAM.
These debtors are both close commercial partners of Kem One.
Do takrat se bodo izvedli tudi vsi ukrepi iz načrta prestrukturiranja.
[…] and certain Lavéra products (VCM, chlorinated residues, chloroform) are vital for [private operator 1] because of the vertical integration of the fluorinated gases production chain involving the Lavéra, Saint-Aubain and Pierre-Bénite sites, all in southern France.
Obdobje načrta prestrukturiranja je torej manj kot tri leta, kar je v skladu z zahtevo iz točke 35 smernic iz leta 2004, ki določa, da mora biti obdobje načrta prestrukturiranja „čim krajše“.
These products are very difficult to replace by sources further afield.
Načrt prestrukturiranja bi tako v razumnem roku ponovno vzpostavil dobičkonosnost družbe Kem One.
Moreover, there is no alternative outlet for [private operator 3]‘s production of ethylene by steam cracker at Lavéra that can be subject to an equivalent evaluation.
V sklepu o začetku postopka je Komisija izrazila pomisleke o verodostojnosti nekaterih elementov scenarijev za ponovno vzpostavitev dolgoročne dobičkonosnosti, ki so jih predložili francoski organi.
The industrial partners know their customer and are vital to the undertaking's continued operation.
Tretje osebe so v veliki meri tudi povzele pomisleke, ki jih je Komisija izrazila v sklepu o začetku postopka.
It is therefore in their interest to remain involved in the undertaking and to accept a debt write-off, unlike a purely financial creditor whose sole objective would be to recover the debt.
Komisija ugotavlja, da je v odgovoru na sklep o začetku postopka francoski organ predložil potrebne podrobne podatke in posodobitve v zvezi z začetnimi predpostavkami poslovnega načrta.
Bearing in mind the particular situation of these two creditors, it is not admissible to estimate the average rate of debt write-off at […] %.
Zato so na zahtevo Komisije francoski organi predložili računovodske napovedi, ki temeljijo na pesimističnih, zmernih in optimističnih predpostavkah in ne vključujejo bančnega posojila.
Nevertheless, all the other creditors who agreed to write off their debts did so at 70 % (368 creditors for a total amount of EUR 33,4 million).
Komisija nadalje ugotavlja, da naložbeni projekt, povezan s prestrukturiranjem, poteka bolje, kot je bilo predvideno v prvotnih napovedih.
These creditors had no priority or collateral and were not in a comparable situation to the tax and social security creditors.
Tako je načrtovana naložba v višini [150 – 250] milijonov EUR bila zmanjšana za [15 – 25] milijonov EUR.
Consequently, by agreeing to write off […] % of the remittable debts, France went beyond what the private creditors accepted.
Rok izvedbe naložbe je bil skrajšan, tako da je naložba predvidena za četrto četrtletje leta 2016, kar je štiri do pet mesecev prej, kot je bilo načrtovano.
France argued that agreeing to a debt write-off of EUR […] allowed it to avoid possible losses of EUR […].
Ta predčasna naložba zagotavlja prihranek v višini [10 – 20] milijonov EUR.
However, the difference of EUR […] is low compared with the amounts irreparably lost (EUR […]), in particular given the uncertainty of the loss of EUR […].
Zato so se v zmernem scenariju denarna sredstva povečala za [30 – 40] milijonov EUR.
This solution is not one that a private creditor in a market economy would have adopted.
V pesimističnem scenariju so se denarna sredstva prilagodila v istem razmerju, tako da gre zdaj za negativni znesek v višini [70 – 80] milijonov EUR.
Accordingly, the amount of aid is equivalent to the difference between the rate of debt write-off applied by France ([…] % or EUR […]) and the rate of debt write-off by the private investors (70 % or EUR […]), namely EUR […].
Ker so leta 2014 cene nafte in posledično cene etilena nenehno padale, tako kot so padale cene kavstične sode, je družba Kem One zabeležila večji upad prometa, kot je bilo napovedano.
Effect on competition and trade between Member States
Vendar Komisija ugotavlja, da to zmanjšanje prometa ne povzroča nižje stopnje dobička družbe, če se cene surovin, potrebnih za proizvodnjo PVC, zmanjšajo sorazmerno s prometom ali celo bolj.
The public support measures favour Kem One by providing it with additional financial resources and preventing it from having to cease operations.
Komisija iz tega sklepa, da pojasnila francoskih organov glede sklepa o začetku postopka potrjujejo verodostojnost povratka k dolgoročni sposobnosti preživetja družbe Kem One.
The measures allow it to maintain a stronger competitive position than it would have had if the aid had not been provided.
Predvideni ukrepi prestrukturiranja so v skladu z zahtevami iz smernic iz leta 2004, ki zahtevajo prehod družbe Kem One na vertikalno integrirano industrijsko strukturo, ki bo zaradi projekta SAM in obvladovanja proizvodnih stroškov v zvezi z oskrbo s surovinami postala bolj učinkovita z vidika dobičkonosnosti.
They therefore threaten to distort competition between the operators in the PVC sector and in the market for chlorine and caustic soda production.
Preprečevanje vsakršnega neupravičenega izkrivljanja konkurence
Furthermore, there is a significant volume of trade between Member States in these sectors in European territory.
Namen izravnalnih ukrepov je torej omogočiti omejitev učinkov ukrepov pomoči na trge, na katerih deluje upravičenec, ne da bi pri tem ogrozili strukturo konkurence na teh trgih in na koncu tudi ne sposobnosti preživetja upravičenca.
The PVC market is relatively concentrated: five operators, including Kem One, account for 90 % of the market and Kem One is third among European S-PVC producers.
Prenos sredstev ni ustrezen izravnalni ukrep v tem primeru
The Commission has already had cause to regard the geographical scope of this market as covering at least north-western Europe, implying that competitive conditions are relatively homogeneous within this area [19].
Točka 40 smernic iz leta 2004 določa, da bi se morali izravnalni ukrepi izvajati „zlasti na tistem trgu ali trgih, kjer bo imelo podjetje po prestrukturiranju pomemben tržni položaj“.