natgillin/translations-raw huggingface dataset:
As the operations generating these costs are an inherent and essential part of the restructuring programme, the Areva Group must be able to cover these costs in order to return to viability.
Ukrepi za omejevanje izkrivljanja konkurence imajo običajno obliko strukturnih ukrepov, Komisija pa lahko v posebnih primerih odobri tudi ukrepe v zvezi z ravnanjem ali ukrepe za odprtje trga namesto nekaterih ali vseh strukturnih ukrepov, ki bi jih sicer bilo treba sprejeti, kadar je v posameznih primerih to potrebno za obravnavo izkrivljanja konkurence.
However, the Commission observes, following on from the opening decision, that a gap remains between the total restructuring cost (EUR [8-9 billion]) and the total of the sources of financing for the Areva Group's restructuring (EUR [9-11 billion]).
Glede strukturnih ukrepov je v smernicah v točki 78 navedeno, da „se morajo izvajati zlasti na tistem trgu ali trgih, kjer bo imelo podjetje po prestrukturiranju pomemben tržni položaj, zlasti kadar gre za visoke presežke zmogljivosti“.
However, the doubt associated with this observation, regarding possible excess liquidity, can be dispelled in the light of the following three arguments.
Ukrepi za omejevanje izkrivljanja konkurence ne smejo ogroziti obetov za obnovo sposobnosti preživetja upravičenca ali škodovati konkurenci, potrošniku ali strukturi trga.
Firstly, the Guidelines do not lay down any mathematical relationship between the restructuring costs and the combined amount of the aid and own funds.
V točki 84 smernic so navedeni ukrepi v zvezi z ravnanjem, ki jih je treba uporabiti v vseh primerih, da bi se preprečila slabitev učinkov strukturnih ukrepov.
The Commission has thus accepted in the past that the total amount of the aid and the own contribution could exceed the restructuring costs, although this did not prevent the aid from being limited to the minimum [49].
Francoski organi so v obvestilu z dne 29. aprila 2016 predstavili program odprodaj za skupino Areva kot zadosten izravnalni ukrep.
Secondly, if New Areva were to experience an adverse scenario, and refinancing were thus required in the circumstances described, for example, in recitals 242 and 243, the apparent ‘excess liquidity’ would be essential for the restructuring of the Areva Group and its return to viability.
Komisija je v sklepu o začetku postopka ugotovila, da večina predvidenih odprodaj [51] ni bila zadostni izravnalni ukrep, ker po obsegu niso bile primerljive z učinkom pomoči podjetju [52] in ker niso bile povezane s trgi, na katerih bo družba Nouvel Areva dejavna po prestrukturiranju.
Thirdly, the French authorities have undertaken to ensure that Areva SA's sole economic function will be to honour the liabilities that it will retain under the restructuring plan.
Stališče Komisije o tem se ni spremenilo.
It will therefore not be possible to use the amounts allocated to Areva SA for any purpose other than to cover these liabilities.
To stališče se ni nanašalo na odprodajo dejavnosti, povezane z reaktorji, katere obseg je Komisija obravnavala že v sklepu o začetku postopka: pri ločitvi od družbe Nouvel Areva NP prestrukturirana skupina Areva izgubi znaten del svoje dejavnosti, ki znaša tretjino sredstev in skoraj polovico prometa skupine Areva pred prestrukturiranjem.
Once these liabilities have been honoured, Areva SA will be liquidated.
Vseeno je se Komisija spraševala o učinkih odprodaje na konkurenco in o njihovi zadostnosti pri zmanjševanju izkrivljanja konkurence, nastalega zaradi pomoči.
Any excess liquidity at the time of the liquidation, which would therefore be carried out while the undertaking was solvent, will then be returned to the shareholders of Areva SA, in accordance with French commercial law on liquidation.
Na podlagi smernic Komisija ugotavlja, da je treba odgovor na to vprašanje poiskati na podlagi analize naslednjih treh vprašanj:
However, Areva SA's share capital will be held entirely by its public shareholders once the minority shareholders' stakes have been bought back, as described in recital 292.
Ali ima družba Nouvel Areva NP „dejavnost, ki prinaša izgubo in bi [njeno odprodajo] bilo treba v vsakem primeru izvesti zato, da se obnovi dolgoročna sposobnost preživetja“ v okviru skupine Areva v skladu s točko 78 smernic?
Next, the Commission notes that the Areva Group is mobilising an own contribution of EUR [3-7 billion].
Ali ima konec integracije dejavnosti, povezane z reaktorji, in dejavnosti gorivnega cikla predvsem zaradi izgube sinergije dejanske učinke na konkurenčnost skupine Areva na „tistem trgu ali trgih, kjer bo imelo podjetje po prestrukturiranju pomemben tržni položaj“, torej na trgih družbe Nouvel Areva, kot je navedeno v točki 78 smernic?
In this case, the Commission can consider an own contribution of at least EUR [4-4,5 billion], equating to 50 % of the restructuring costs, as adequate within the meaning of point 64 of the Guidelines.
Ali lahko dodatni ukrepi povzročijo poslabšanje strukture trga v nasprotju z navedbami v točki 80 smernic?
Given that the amount indicated by the French authorities is higher than this, the Commission confirms that this criterion is met.
Glede prvega vprašanja iz uvodne izjave 334 Komisija ugotavlja, da je bila dejavnost, povezana z reaktorji, vzrok za velike izgube za skupino Areva v prejšnjih letih, kot je opisano v uvodnih izjavah 17 in 21.
Lastly, it must be demonstrated that (i) the effect of the own contribution is comparable to the effect of the aid granted — in this case, a positive effect on the undertaking's solvency and not only on its liquidity — and (ii) that the contributions are ‘real, that is to say actual’ within the meaning of point 63 of the Guidelines.
Treba je ugotoviti, ali so te izgube strukturnega izvora in ali bodo tudi v prihodnosti ogrožale donosnost skupine Areva, če prodani subjekt ostane v njenem okviru.
The own contribution presented by the French authorities comes from three different sources: divestments of assets and subsidiaries, capital injections, and internal financing (essentially comprising a structural reduction in the Areva Group's minimum cash balance).
Težave v zvezi z dejavnostjo, povezano z reaktorji, v nasprotju s težavami v zvezi z dejavnostmi gorivnega cikla ni v prvi vrsti posledica poslabšanja razmer na trgu po nesreči v Fukušimi.
The main effect of these sources of own contributions is to improve the solvency of the Areva Group, in line with the requirement in point 62 of the Guidelines.
Te izgube so povezane predvsem z omejenim številom velikih industrijskih projektov, zlasti s projektom OL3, pri katerih so bila tveganja v veliki meri idiosinkratična.
However, it is unclear if these sources are real and actual.
Ti veliki projekti so modeli serije z novo tehnologijo reaktorjev (tehnologija EPR).
The Commission considers that the divestment of an asset or of a subsidiary can be counted as a real and actual own contribution provided that the divestment has already taken place under the restructuring plan, or, if it has not yet been completed, on condition that there are no serious impediments that would prevent it from taking place before the restructuring period ends.
Običajno je, da pri prvih modelih serije z novo tehnologijo pride do večjih izgub, vendar se pri prihodnjih projektih lahko izkoristi pridobljene izkušnje.
The information summarised in recitals 127 to 131, regarding the divestments of Canberra, Areva TA, Elta and Adwen, enables the Commission to consider that these divestments are sufficiently certain and therefore form an integral part of the Areva Group's own contribution to its restructuring.
Dejavnost izvajanja velikih projektov družbe Nouvel Areva NP bo tako manj tvegana kot v preteklosti.
The total of these divestments is EUR [0-2 billion].
Poleg dejavnosti izvajanja velikih projektov bo družba Nouvel Areva izvajala tudi druge dejavnosti, kot so storitve na lokaciji objekta (vzdrževanje) ali zagotavljanje elementov goriva.
However, at the present time, the divestment of New Areva NP is still uncertain.
Ti dejavnosti sta manj tvegani kot dejavnost izvajanja velikih projektov in sta dobra podlaga za ustvarjanje pozitivnega denarnega toka družbe Nouvel Areva NP, pri čemer sta povprečni marži dobička pred obrestmi, davki in amortizacijo za ti dve dejavnosti [0–30] % in [0–30] % [53].
It is unlikely that the divestment will be jeopardised by potential opposition from TVO, following the failure of the negotiations referred to in recital 20.
Subjekt, prodan družbi EDF, (Nouvel Areva NP) bo obsegal vse dejavnosti, ki so zdaj v lasti družbe Areva NP, razen obveznosti, ki so nastale v okviru nekaterih zelo posebnih velikih industrijskih projektov, zaradi katerih je v preteklosti prišlo do velikih izgub [54].
On the one hand, in the Commission's view, TVO's interests are properly protected in the chosen restructuring plan, particularly with regard to the Areva Group's future ability to honour its commitments.
Ob upoštevanju tega obsega družba Nouvel Areva NP nima strukturnega primanjkljaja.
On the other hand, TVO has not informed the Commission of any intention to block or delay the divestment of New Areva NP.
Po eni strani je njena dejavnost izvajanja velikih projektov manj tvegana kot dejavnosti v zvezi z modeli serije projektov OL3, Tajšan 1 in 2 ter Flamanville 3 […].
However, as noted in recital 31 et seq., the divestment of New Areva NP remains subject to a number of conditions precedent, some of which pose an objective risk to the completion of the transaction.
Po drugi strani pa ima družba dobro in trdno industrijsko podlago z storitvami na lokaciji objekta ali zagotavljanjem elementov goriva.
Specifically, the divestment is subject to the ASN's conclusions on the outcome of the demonstration programme regarding the carbon segregation issue at the Flamanville 3 vessel; these conclusions must confirm the absence of any anomalies that would result in significant cost increases or delays to the project.
Nakupna cena v višini 2,5 milijarde EUR, o kateri sta se dogovorili skupina Areva in družba EDF, jasno kaže, da subjekt Nouvel Areva NP ponuja dejanske obete in nima strukturnega primanjkljaja.
As a result, the Areva Group and EDF expect a favourable outcome from the demonstration programme and are confident that the vessel will be found to meet the ASN's requirements within the required timeframe.
Pravzaprav gre za ustrezen izravnalni ukrep.
The Commission takes note of the opinion expressed by the Areva Group and EDF but considers that the transaction is not sufficiently certain until the ASN, an independent authority and the only judge of the test results, has given its conclusions on the outcome of the demonstration programme.
Še toliko bolj, ker je ukrep v skladu z navedbami iz točke 77 smernic strukturne narave.
It is extremely difficult to quantify this risk, since its occurrence depends on an independent authority's conclusions on an extremely technical nuclear safety issue.
Francoski organi pa menijo, da gre zagotovo za prednost, ki učinkuje na vse trge cikla jedrskega materiala.
However justified it may be, this condition precedent means that the outcome of the transaction depends on the decision of an independent authority — in this case, the Commission.
Korejski proizvajalec jedrskih reaktorjev KHNP se je integriral v dejavnosti začetka gorivnega cikla s pridobitvijo deleža izvajalca rudarskih del Denison in namerava sodelovati v projektu Imouraren, podjetji Toshiba/Westinghouse pa imata deleže v rudnikih v Kazahstanu.
As the market survey that must precede the Commission's assessment has not been carried out at the time of this Decision, the Commission cannot prejudge the outcome of its market survey relating to the control of concentrations or the decision it will take in respect of the concentration.
Skupina CNNC ima danes le zmogljivosti za pretvorbo in obogatitev ter delež v rudniku Langer Heinrich v Namibiji, ki ga upravlja izvajalec rudarskih del Paladin; skupina si vseeno prizadeva za integracijo na trg gorivnih elementov, da bi izkoriščala sinergijo, ki izvira iz integracije teh različnih dejavnosti.
If the Commission decided to prohibit the concentration, the very principle of the transaction would be jeopardised and the Areva Group would not be able to prove that the proceeds of the divestment of the reactors business are real and actual.
Kazahstanska rudarska družba KAP – ki jo družba Urenco navaja kot neintegriranega akterja – si za spodbuditev prodaje naravnega urana prizadeva za razvoj obrata za gorivne elemente v sodelovanju z drugim izvajalcem.
This eventuality cannot be completely ruled out at this stage.
Ta splošni trend, ki se v razmerah na trgu po nesreči v Fukušimi celo krepi, se nanaša na glavne akterje na področju jedrske energije.
However, if the Commission's assessment following the market survey does not justify prohibiting the concentration, the Commission will adopt a decision to approve the transaction, if necessary with measures to remedy any potential negative effects on competition (‘remedies’).
Neintegrirani model družbe Urenco se nasprotno zdi razmeroma manjšinsko zastopan.
A decision to approve the concentration, even one that includes remedies, would remove the uncertainty caused by the fact that the transaction and the expected proceeds for the Areva Group are subject to the Commission's decision on the concentration.
To kaže, da lahko integracija dejavnosti, povezane z reaktorji (vključno s proizvodnjo gorivnih elementov), in dejavnosti gorivnega cikla prinese več prednosti.
In fact, the existence of remedies would not significantly alter the amount that the Areva Group would receive for the divestment of New Areva NP.
V zvezi z naravo teh prednosti Komisija ugotavlja, da ima integrirana skupina velike koristi od skupne prodajne ekipe, porazdeljene na področje gorivnih elementov, ki je v stiku s strankami, ponudniki elektrike, in na področje začetka gorivnega cikla, pri čemer sta ti področji podobni javnim službam, ki imajo zamenljive ponudnike.
In a scenario where, for example, a structural remedy were required, EDF would need to sell the assets in question (which could belong to either EDF or New Areva NP), without the sale calling into question the purchase of New Areva NP or, in principle, the price stipulated in the purchase contract.
V zvezi s tem je pomembno dejstvo, da je [5–10] od 10 strank družbe Areva NP (v prihodnosti družbe Nouvel Areva NP) tudi strank družbe Areva NC (v prihodnosti družbe Nouvel Areva).
The Commission does not rule out the possibility that the price could be increased (in the form of a price premium) or reduced (if remedies were applied or by virtue of guarantees granted to EDF in the SPA), but it considers that the central value of EUR 2,5 billion agreed by the parties to the transaction with the help of their advisers is a realistic estimate of the market price of the divestment and, consequently, of the own contribution that the Areva Group could receive as a result.
Francoski organi so navedli primer ponudnika elektrike […], ki je povabil k oddaji prijave za proizvodnjo gorivnih elementov.
As long as these two conditions precedent have not been met — the positive opinion from the ASN on the outcome of the demonstration programme for the Flamanville 3 vessel, and the authorisation (non-prohibition) of the concentration by the Commission — the Commission takes the view that the transaction remains subject to uncertainties that are too great for the own contribution resulting from the divestment of New Areva NP to be considered real and actual.
Uradno je povabilo k oddaji prijave zajemalo le proizvodnjo gorivnih elementov, torej dejavnosti, ki bo v prihodnosti v obsegu družbe Nouvel Areva NP.
However, the proceeds from this divestment will be counted as a real and actual own contribution once these two conditions have been met.
Vseeno je ponudnik […] pozval kandidate, naj v svoje ponudbe dodatno vključijo dobavo obogatenega cepljivega materiala – ta dejavnost bo v prihodnosti v obsegu družbe Nouvel Areva.
The Commission considers that a capital injection by a third party can be counted as a real and actual own contribution, provided that the capital injection has already taken place under the restructuring plan, or, if it has not yet been completed, on condition that there are no serious impediments that would prevent it from taking place before the restructuring period ends.
Zaradi svoje integrirane prodajne ekipe je lahko skupina Areva v preteklosti svoji ponudbi za gorivne elemente dodala dobavo obogatenega cepljivega materiala.
The Commission applies this logic to the investments of MHI and JNFL in New Areva.
V prihodnosti se bo lahko družba Nouvel Areva NP v takšnih situacijah obrnila na katerega koli dobavitelja, pri čemer ne bo avtomatizma ali izključne pravice za skupino Nouvel Areva, temveč se bo spodbujalo konkurenčnost med dobavitelji obogatenega cepljivega materiala, da bi izboljšali kakovost skupne ponudbe, ki jo nazadnje predloži družba Nouvel Areva NP.
The French authorities have forwarded to the Commission the offers made by these two investors: one offer is from MHI, for a 5 % stake at a price of EUR 250 million, and the other is from JNFL, also for a 5 % stake at EUR 250 million.
Tako se bo omogočilo veliko priložnosti za konkurente družbe Nouvel Areva, v prvi vrsti za družbo Urenco.
These are firm offers insofar as […].
Koristi integracije dejavnosti, povezane z reaktorji, in gorivnega cikla so opazne tudi pri ponudbah goriva, ki so vključene v prodajo novega reaktorja, česar družba Urenco ne zanika.
The Commission therefore takes the view that these offers will constitute a real and actual source of an own contribution once the conditions referred to in recitals 315 and 316 have been met.
V praksi načrtovalec in graditelj reaktorja (zdaj družba Areva NP v okviru skupine Areva) skoraj sistematično zagotovi gorivne elemente za prvo sredico reaktorja in za prva polnjenja, dokler reaktor ne doseže polnega delovanja.
Lastly, as regards the own funds mobilised by the Areva Group, the French authorities have sent the Commission information regarding a total amount of around EUR [0-2 billion].
Reaktorji imajo jamstvo za uspešno delovanje, ki je neločljivo povezano s kakovostjo gorivnih elementov vsaj v fazi zagona in pridobivanja moči reaktorja.
This amount is the result of a reduction of around EUR [0-1 billion] in the Areva Group's minimum cash balance, and of transfers of tax receivables and trade receivables of EUR [0-1 billion].
Za popolno obvladovanje kakovosti gorivnih elementov in tako delovanja reaktorja dobavitelj reaktorja stranki, ki je ponudnik elektrike, zagotovi gorivne elemente, ki ustrezajo prvi sredici reaktorja in prvim ponovnim polnjenjem.
The French authorities have demonstrated that the reduction in the minimum cash balance was the result of a long process designed to optimise cash inflows and outflows and spread them out over the year, so that it is structural in nature and not likely to be increased in the future.
Stranke, ki so ponudniki elektrike, so naklonjeni sodelovanju z enim samim dobaviteljem, na katerega se lahko obrnejo ali ki je odgovoren v primeru težav v odločilnem obdobju zagona in pridobivanja moči reaktorja.
The Commission notes that these measures have already been implemented successfully and that they are therefore real and actual.
Družba TVO je na primer poudarila […].
Conclusion on own contribution
Tako je zagotavljanje gorivnih elementov za prvo sredico reaktorja in prva polnjenja reaktorja prednostni način oskrbe strank, kot to dokazujejo […].
The total amount of own contributions submitted by the French authorities is EUR [3-7 billion].
Trend centralizirane oskrbe je danes okrepljen, saj veliko potencialnih strank prvič kupuje jedrsko tehnologijo.
This amount is higher than 50 % of the total amount of restructuring costs.
Ker nimajo velikih namenskih ekip, so zelo naklonjeni oskrbi prek enega dobavitelja, ki lahko izpolni vse potrebe po izdelkih in storitvah z začetka cikla ter gorivnih elementih.
These sources of own contributions have a broadly comparable effect to that of the aid itself in that they improve the solvency of the Areva Group, in line with point 62 of the Guidelines.
Tako sklenjene pogodbe obsegajo več kot le prvo sredico in vsa prva ponovna polnjenja, pri čemer je trajanje teh pogodb pogosto daljše od trajanja pogodb za obratujoče reaktorje.
However, the main source of the Areva Group's own contribution, namely the proceeds from the divestment of New Areva NP, can only be considered sufficiently real and actual if the two conditions precedent identified in recitals 315 and 316 are lifted; these conditions are linked to the sovereign decisions of independent administrative authorities that neither the parties to the transaction nor the French authorities can influence, which is, moreover, entirely justified since they relate to matters of nuclear safety.
Ta način je bil na primer izbran pri […].
A further effect of this is that the own contributions originating from the subscription by MHI and JNFL to New Areva's capital increase will also be real and actual when these conditions are lifted.
Vsak dobavitelj izdelkov in storitev z začetka cikla, ki sodeluje z dobaviteljem gorivnih elementov in reaktorjev, ima konkurenčno prednost.
In the light of the above, the Commission concludes that a sufficient, real and actual own contribution in accordance with point 63 of the Guidelines will exist on the date the two conditions identified in recitals 315 and 316 are lifted.
Skupina Areva zdaj združuje prodajo reaktorjev s prodajo prve sredice in prvih ponovnih polnjenj ter na zahtevo stranke tudi nadaljnjih polnjenj (običajno […]).
Avoidance of undue negative effects on competition and trade
Natančneje je trženje gorivnih elementov v okviru projektov v zvezi z novimi reaktorji koristno za dejavnosti začetka cikla skupine Areva (ki jih bo v prihodnosti prevzela družba Nouvel Areva) v treh primerih:
Under point 38(f) of the Guidelines, the negative effects of the aid must be sufficiently limited, so that the overall balance of the measure is positive.
ko družba Areva NP sistematično uporablja uran ter storitve pretvorbe in obogatitve skupine Areva za izpolnitev te potrebe, ponudbe skupine Areva zagotavljajo večji obseg prodaje urana, pretvorbe in obogatitve;
The Commission therefore has to examine whether the ‘one time, last time’ principle has been complied with and whether measures have been taken to limit distortions of competition.
te pogodbe, sporazumno sklenjene v okviru razprav o nakupu reaktorja, lahko vsebujejo ugodnejše pogoje od tistih, o katerih se dogovori v okviru odprtega postopka, v katerem sodelujejo številni drugi akterji s področja rudarstva, pretvorbe in obogatitve, pri čemer daljše trajanje teh pogodb omogoča zagotovitev stalne prodajne cene na trgu, kjer se cene spreminjajo;
‘One time, last time’ principle
poleg tega ta vrsta pogodb omogoča dobavitelju urana ter storitev pretvorbe in obogatitve, da se uveljavi ter si postopoma oblikuje ugled in verodostojnost na novih trgih, ki so težko dostopni, kot na primer […].
On this basis, the Commission concludes that the ‘one time, last time’ principle has been complied with.
Potrebe za prvo sredico reaktorja EPR obsegajo približno [0–2000] kUTS obogatitve (kar je [0–20] % letne zmogljivosti družbe Nouvel Areva), [0–2000] tUF6 pretvorbe (kar je [0–20] % letne zmogljivosti družbe Nouvel Areva) in [0–2000] tU3O8 naravnega urana (kar je [0–20] % letne proizvodnje družbe Nouvel Areva v letu 2015).
Measures to limit distortions of competition
Za eno ponovno polnjenje je potrebna tretjina teh količin in v večini primerov se ponovna polnjenja gorivnih elementov izvedejo vsakih 18 mesecev.
When restructuring aid is granted, measures must be taken to limit distortions of competition, so that the adverse effects on trading conditions are minimised as much as possible and positive effects outweigh any adverse ones.
Skupina Areva meni, da se načrtovalec in graditelj jedrskega reaktorja pogosto pogaja o oskrbi z vsaj […] poleg zagotovitve prve sredice.