natgillin/translations-raw huggingface dataset:
The United Kingdom thus demonstrated that the financial performance of MMD was under constant review and led to adaptations to its restructuring plan.
Čeprav Komisija tega argumenta ni upoštevala in je družbo MMD obravnavala samostojno, je ugotovila, da posojilni pogoji družbi MMD ne zagotavljajo znatne gospodarske prednosti.
This actually led to a return to profitability of MMD without any revenue grant from PCC in the financial year 2016/2017.
Združeno kraljestvo ni predložilo informacij o oceni družbe MMD, ki bi omogočale preverjanje njene samostojne kreditne sposobnosti.
Therefore, as regards the revenue grants (Measure 2) specifically, the United Kingdom provided substantial evidence for the Commission to be able to remove the concerns raised in the Opening Decision.
Vendar pa bi ob upoštevanju dejstva, da je bila družba po pridobitvi dokapitalizirana, postala na splošno dobičkonosna in kazala razumno dobre obete za prihodnje poslovanje, njena ocena ustrezala vsaj oceni B (šibka), kot je določeno v sporočilu Komisije o referenčnih obrestnih merah iz leta 2008.
The United Kingdom demonstrated that, even though PCC's continued support to MMD by means of the revenue grants went beyond the initial investment plan, both as regards the amount and the duration, it at all material times constituted an economically rational behaviour that was more advantageous for PCC than all other available options.
Glede na običajno raven varnosti (glej uvodno izjavo 93) bi ustrezna razlika v skladu s sporočilom Komisije o referenčnih obrestnih merah iz leta 2008 znašala 400 bazičnih točk.
As regards the long-term loan facility provided by PCC to MMD as of 2010 (Measure 3) specifically, the Commission notes primarily that its existence and the related economic effects for PCC were fully taken into account in the overall economic assessment of its continued support of MMD and were factored in the economic model described above.
Ker je izhodiščna obrestna mera za Združeno kraljestvo novembra 2010 znašala 1,35 %, bi ustrezna domnevna tržna obrestna mera znašala 5,35 %.
In addition, the United Kingdom provided evidence confirming that the financial situation of MMD was assessed prior to the granting of the loan, and that the relevant commercial and financial forecasts provided good prospects for the repayment of the loan in the coming years once the planned restructuring measures are implemented.
Obrestna mera 4,81 %, ki jo je določil PCC, je zelo podobna (nekoliko konservativna) predvideni tržni obrestni meri, pri čemer bi letna razlika pri plačilu obresti za celotno posojilo znašala le 37000 GBP (približno 43000 EUR), kar je v vsakem primeru pod pragom de minimis, ki je 200000 EUR v katerih koli treh zaporednih letih.
The United Kingdom also provided a detailed assessment of each individual project supported by the loan, analysing its expected economic benefits and comparing it with other available options.
Poleg tega se pri predvideni tržni obrestni meri na podlagi sporočila Komisije o referenčnih obrestnih merah iz leta 2008 ni upoštevalo dejstvo, da je PCC tudi v položaju 100-odstotnega delničarja družbe MMD (glej uvodno izjavo 91).
Therefore, the evidence submitted confirms that before the payment of each tranche of the loan, the economic rationale of the relevant investment was properly analysed.
Glede na splošno ozadje odnosa med PCC in družbo MMD Komisija meni, da bi bila hipotetična matična družba v tržnem gospodarstvu pripravljena zagotoviti posojilo pod podobnimi pogoji.
In addition, all the tranches of the loan were used only for capital expenditure and thus in principle increased the value of the business and PCC's investment.
Združeno kraljestvo je nato predložilo še popoln izvod sporazuma o posojilu, ki je zajemal standardne določbe posojilne pogodbe, vključno s spremenljivim zavarovanjem, ki ga je PCC sklenil za vsa sredstva/izterljive zneske družbe MMD in zagotavlja jamstvo v primeru insolventnosti.
Furthermore, the United Kingdom argued that the relevant benchmark is not an independent private lender but a private parent company in a similar situation.
Ker so bila skupna neto sredstva, kot so bila vključena v ekonomski model za proračunsko leto 2010/2011, vredna več kot 10 milijonov GBP, je bilo jamstvo znatno.
According to the United Kingdom, it would be economically rational for a parent company to provide a loan to its subsidiary at the parent's costs of borrowing with the aim to finance investments aimed at improving the subsidiary's competitiveness and thus ultimately increasing its value for the parent company.
Zato je Združeno kraljestvo predložilo ustrezne dodatne dokaze, s katerimi je odpravilo pomisleke v zvezi z ukrepom 3, izražene v sklepu o začetku postopka, in dokazalo, da je bila zagotovitev dolgoročnega posojila v skladu s tem, kar bi storila razumna zasebna matična družba.
The Commission acknowledges that the fact that PCC held (and still holds) 100 % of MMD should be taken into account for the assessment of the loan facility.
Kar zadeva pridobitev dveh žerjavov s strani PCC in njuno naknadno oddajo v dolgoročni zakup družbi MMD v letih 2010 in 2011 (ukrep 4), je ocena glede na podobne pogoje financiranja v obeh primerih enaka oceni dolgoročnega posojila zgoraj.
PCC's economic considerations of the expected profit from the loan are not limited to the expected interest rate payments only, as in the case of commercial banks, but necessarily should take account of the fact that the loan would improve MMD's ability to reach future profits and thus increase the value of PCC's ownership interest.
Iz dokazov, ki jih je predložilo Združeno kraljestvo, je razvidno zlasti, da je PCC skupaj z družbo MMD dejansko iskal stroškovno najučinkovitejšo rešitev za zagotovitev žerjavov, ki sta bila potrebna za dejavnosti družbe MMD.
Indeed, the financing under the loan facility is closely connected to the restructuring measures addressing the financial difficulties of MMD and aimed at achieving long-term profitability.
Čeprav je bilo v poslovnem načrtu v času pridobitve družbe MMD predvideno, da bi se kakršna koli nadomestitev žerjavov izvedla z zakupom pri tretji strani, je iz ustrezno utemeljene predhodne notranje analize morebitnih možnosti za pridobitev žerjavov, ki jo je PCC pripravil kot podlago za postopek odločanja, razvidno, da bi bil nakup žerjavov s strani PCC z naknadnim zakupom družbi MMD ekonomsko ugodnejši.
Further, the ex ante economic model prepared by PCC confirmed that despite a long period of losses incurred by MMD, providing the financing measures including the loan facility was economically the most rational economic behaviour in view of the available alternative options.
Poleg tega sta pogodbi o zakupu vključevali standardne pogodbene pogoje in pravna jamstva za obe strani, ki so ustrezali običajnim pogodbam o zakupu, sklenjenim med gospodarskimi družbami.
However, even disregarding this argument and considering MMD Shipping on a stand-alone basis, the Commission found that the terms of the loan do not provide any appreciable economic advantage to MMD.
Znesek zakupa je izračunan tako, da zagotavlja poplačilo naložbe PCC v 15-letni življenjski dobi žerjavov, vključno s povprečnimi stroški zadolževanja, kar se lahko šteje za splošno poslovno prakso v takih ureditvah znotraj skupine.
The United Kingdom provided no information about the rating of MMD that would permit its creditworthiness on a stand-alone basis to be verified.
Za matične družbe s hčerinskimi družbami v 100-odstotni lasti je dejansko ekonomsko razumno uporabiti ekonomsko najučinkovitejšo ureditev (z vidika celotne skupine) za pridobitev opreme, potrebne za dejavnosti njene hčerinske družbe.
However, taking account of the fact that the company was recapitalised following its acquisition, became profitable overall and showed reasonably good prospects for future business, its rating would correspond at least to B (weak) rating as set out in the Commission Reference Rate Communication of 2008.
Žerjava sta bila družbi MMD dana v 7-letni zakup.
Considering a normal level of security (see Recital 93), the corresponding margin would, in line with the Commission Reference Rate Communication of 2008, amount to 400 basis points.
Ob upoštevanju njune 15-letne življenjske dobe je bilo v notranjih poročilih poudarjeno, da bi lahko PCC po koncu zakupa žerjava ponovno dal v zakup družbi MMD ali ju prodal na sekundarnem trgu.
With a base rate for the United Kingdom in November 2010 amounting to 1,35 %, the corresponding presumed market interest rate would amount to 5,35 %.
V poročilu je navedeno, da obstaja močan trg rabljenih izdelkov za take žerjave, ki PCC omogoča prodajo žerjavov v primeru spremenjenega položaja.
The rate set by PCC amounting to 4,81 % is very close to that (rather conservative) presumed market rate and the annual interest payment difference on the total loan would amount only to GBP 37000 (around EUR 43000), in any event well below the de minimis threshold of EUR 200000 over any 3 consecutive years.
Združeno kraljestvo je s tem predložilo ustrezne dokaze o tem, da bi razumna zasebna matična družba sprejela financiranje pridobitve žerjavov pod pogoji, ki sta jih sklenila PCC in družba MMD.
In addition, the presumed market rate based on the Commission Reference Rate Communication of 2008 does not take into account the fact that PCC is also in a position of a 100 %-shareholder of MMD (see Recital 91).
Tudi v zvezi z jamstvom za prekoračitev stanja na računu (ukrep 5) so bili pomisleki iz sklepa o začetku postopka povezani z domnevno težavno naravo nepovratnih sredstev za prihodek, ki pa je bila pojasnjena v uradnih postopkih.
In view of the overall context of the relationship between PCC and MMD, the Commission considers that a hypothetical market economy parent company would be ready to provide the loan facility under similar conditions.
Poleg tega je Združeno kraljestvo predložilo notranje dokumente, s katerimi je dokazalo, da je bila zagotovitev različnega obratnega kapitala poslovno razumna odločitev PCC, saj je bil to najučinkovitejši način za zagotovitev nemotenih dejavnosti družbe MMD kot njegove hčerinske družbe.
Finally, the United Kingdom submitted a complete copy of the loan agreement that comprised the standard provisions of a loan contract, including a floating charge taken by PCC over all of MMD's assets/recoverables providing a security in the event of insolvency.
Upoštevala se je tudi v ekonomskem modelu, omenjenem zgoraj.
Given that the value of the total net assets as included in the economic model for the financial year 2010/2011 was more than GBP 10 million, the security was substantial.
Kar zadeva nadomestitev gotovinskega pologa z jamstvom PCC, je bilo v predhodnem notranjem dokumentu, ki je bil podlaga za odločitev PCC, ugotovljeno, da je tako jamstvo za družbo MMD in PCC dejansko ekonomsko ugodnejše kot gotovinski polog, saj bi PCC omogočil, da prepreči izgubo obresti za gotovinski polog.
Therefore, the United Kingdom provided sufficient additional evidence removing the concerns expressed in the Opening Decision with respect to Measure 3 and demonstrating that the provision of the long-term loan was in line with what a rational private parent company would have done.
Združeno kraljestvo je tako dokazalo, da je bilo za matično družbo ekonomsko razumno, da je zagotovila obratni kapital in s tem nemoteno delovanje svoje hčerinske družbe v 100-odstotni lasti.
As regards the acquisition of two cranes by PCC and their subsequent long-term lease to MMD in 2010 and 2011 (Measure 4), its assessment is analogous to the long-term loan facility above in view to the similarities of the conditions of financing in both cases.
Sklepna ugotovitev v zvezi z obstojem državne pomoči
In particular, the evidence provided by the United Kingdom indicates that PCC, together with MMD, were indeed looking for the most cost-effective solution to secure the cranes which were necessary for MMD's operations.
Glede na navedeno je Komisija sklenila, da so bili ukrepi 2 do 5 zagotovljeni v skladu z načelom vlagatelja v tržnem gospodarstvu in zato družbi MMD niso omogočili neupravičene gospodarske prednosti.
Even though the business case at the time of the acquisition of MMD envisaged that any replacement of cranes would be done by a lease from a third party, the duly substantiated ex ante internal analysis of possible options for the acquisition of cranes prepared by PCC as a basis for its decision-making process shows that a purchase of the cranes by PCC with a subsequent lease to MMD would be more economically advantageous.
Ukrepi 2 do 5 torej ne pomenijo državne pomoči v smislu člena 107(1) Pogodbe o delovanju Evropske unije.
In addition, the lease agreements included standard contractual terms and legal safeguards for both parties corresponding to common lease contracts concluded between commercial companies.
DODATNE PRIPOMBE
The amount of the lease is calculated so as to ensure repayment of PCC's investment over the 15 years lifetime of the cranes including its average costs of borrowing, which may be considered as a common commercial practice for such intra-group arrangements.
Ker je Združeno kraljestvo 29. marca 2017 uradno sporočilo svojo namero, da zapusti Unijo, se bosta v skladu s členom 50 Pogodbe o Evropski uniji Pogodbi za Združeno kraljestvo prenehali uporabljati z dnem začetka veljavnosti sporazuma o izstopu, sicer pa dve leti po uradnem obvestilu, razen če Evropski svet po dogovoru z Združenim kraljestvom ne sklene, da se to obdobje podaljša.
It is indeed economically rational for parent companies with 100 %-owned subsidiaries to use the economically most efficient arrangement (from the point of view of the whole group) for the acquisition of equipment necessary for its subsidiary's activities.
Zato se ta sklep brez poseganja v določbe sporazuma o izstopu uporablja le, dokler ne preneha članstvo Združenega kraljestva v Evropski uniji.
The cranes were leased to MMD for a period of 7 years.
SKLEP
In view of their expected 15 year lifetime, the internal reports stressed that PCC could after the end of the lease either lease again the cranes to MMD or to sell them on the secondary market.
Komisija ugotavlja, da ukrepi, ki jih je zagotovilo Združeno kraljestvo, ne pomenijo državne pomoči v smislu člena 107(1) Pogodbe o delovanju Evropske unije –
The report indicates that there is a strong second-hand market for such cranes enabling the sale of the cranes by PCC in case the situation changes.
SPREJELA NASLEDNJI SKLEP:
Therefore, the United Kingdom provided sufficient evidence indicating that a rational private parent company would have accepted to finance the acquisition of the cranes under the conditions agreed between PCC and MMD.
Člen 1
Finally, as regards the security for overdraft facility (Measure 5), the concerns expressed in the Opening Decision were again linked to the allegedly problematic character of the revenue grants which has, however, been clarified during the formal proceedings.
Ukrepi, ki jih je Združeno kraljestvo izvedlo v korist družbe MMD, ne pomenijo državne pomoči smislu člena 107(1) Pogodbe o delovanju Evropske unije.
In addition, the United Kingdom provided internal documents demonstrating that the provision of the various working capital facilities was a commercially rational decision of PCC since it was the most cost effective way how to ensure smooth operations of MMD as its subsidiary.
Člen 2
In addition, it was also taken into account in the economic model mentioned above.
Ta sklep je naslovljen na Združeno kraljestvo Velika Britanija in Severna Irska.
Further, as regards the replacement of the cash deposit by a guarantee by PCC, an ex ante internal document serving as a basis for PCC's decision comes to the conclusion that such guarantee is indeed more economically beneficial for both MMD and PCC than a cash deposit as it would allow PCC to avoid the loss of interest on the cash deposit.
V Bruslju, 9. novembra 2018
The United Kingdom thus demonstrated that it was economically rational for a parent company to provide the working capital facilities ensuring smooth operation of its fully owned subsidiary.
Za Komisijo
Conclusion on the existence of State aid
Članica Komisije
In view of the above, the Commission concludes that Measures 2 to 5 were provided in line with the MEIP and thus did not provide MMD with an undue economic advantage.
UL C 452, 2.12.2016, str. 4.
Measures 2 to 5 thus do not constitute State aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union.
Glej sprotno opombo [1].
ADDITIONAL OBSERVATIONS
Glej na primer notranja poročila za oceno načrta za stalne naložbe v družbo MMD iz maja/junija 2013.
Since the United Kingdom notified on 29 March 2017 its intention to leave the Union, pursuant to Article 50 of the Treaty on European Union, the Treaties will cease to apply to the United Kingdom from the date of entry into force of the withdrawal agreement or, failing that, two years after the notification, unless the European Council, in agreement with the United Kingdom, decides to extend that period.
Zaupne informacije.
As a consequence, and without prejudice to any provision of the withdrawal agreement, this decision only applies until the United Kingdom ceases to be a Member State.
Glej na primer sodbo Sodišča z dne 21. marca 1990, Belgija proti Komisiji (Tubemeuse), C-142/87, ECLI:EU:C:1990:125, točka 29; sodbo Sodišča z dne 21. marca 1991, Italija proti Komisiji (ALFA Romeo), C-305/89, ECLI:EU:C:1991:142, točke 18, 19 in 20; sodbo Splošnega sodišča z dne 30. aprila 1998, Cityflyer Express proti Komisiji, T-16/96, ECLI:EU:T:1998:78, točka 51; sodbo Splošnega sodišča z dne 21. januarja 1999, Neue Maxhütte Stahlwerke in Lech-Stahlwerke proti Komisiji, združene zadeve T-129/95, T-2/96 in T-97/96, ECLI:EU:T:1999:7, točki 104 in 109; sodbo Splošnega sodišča z dne 6. marca 2003, Westdeutsche Landesbank Girozentrale in Land Nordrhein-Westfalen proti Komisiji, združeni zadevi T-228/99 in T-233/99, ECLI:EU:T:2003:57, točka 245; sodbo Sodišča z dne 25. junija 2015, SACE proti Komisiji, T-305/13, ECLI:EU:T:2015:435, točke 91 do 93, in sodbo Sodišča z dne 16. januarja 2018, EDF proti Komisiji, T-747/15, ECLI:EU:T:2018:6, točke 18 do 79.
CONCLUSION
Glej na primer sodbo Sodišča z dne 3. aprila 2014, ING Groep NV, C-224/12 P, ECLI:EU:C:2014:213, točki 35 in 36.
The Commission finds that the measures provided by the United Kingdom do not constitute State aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union,
Glej na primer sodbo Sodišča z dne 5. junija 2012, EDF, C-124/10 P, ECLI:EU:C:2012:318, točki 84 in 85.
HAS ADOPTED THIS DECISION:
Glej na primer sodbo Sodišča z dne 5. junija 2012, Komisija proti EDF, C-124/10 P, ECLI:EU:C:2012:318, točke 79 do 81; sodbo Sodišča z dne 10. julija 1986, Belgija proti Komisiji, 234/84, ECLI:EU:C:1986:302, točka 14; sodbo Sodišča z dne 10. julija 1986, Belgija proti Komisiji, 40/85, ECLI:EU:C:1986:305, točka 13; sodbo Sodišča z dne 14. septembra 1994, Španija proti Komisiji, združene zadeve C-278/92 do C-280/92, ECLI:EU:C:1994:325, točka 22, in sodbo Sodišča z dne 28. januarja 2003, Nemčija proti Komisiji, C-334/99, ECLI:EU:C:2003:55, točka 134.
Article 1
Sodba z dne 16. maja 2002, Francija proti Komisiji, C-482/99, ECLI:EU:C:2002:294, točka 71.
The measures which the United Kingdom has implemented for MMD do not constitute aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union.
Glej e-pošto z dne […], ki jo je poslal […].
Article 2
Glej notranji dokument PCC o analizi […] z dne […].
This Decision is addressed to the United Kingdom of Great Britain and Northern Ireland.
Glej zbirno poročilo z dne 30. avgusta 2014 o analizi možnosti uporabe območja družbe MMD za postavitev vetrnih turbin, ki ga je pripravila družba Mosscliff Environmental Consultancy.
Done at Brussels, 9 November 2018.
Glej celovito analizo možnih alternativ, pripravljeno za razpravo o načrtu za stalne naložbe v družbo MMD, ki je potekala junija in oktobra 2013.
For the Commission
Glej npr. dopolnjena poročila o trgovskem pristanišču za PCC iz marca 2009, junija 2009, novembra 2010, junija 2011, oktobra 2012, marca 2013, marca 2014 ali marca 2015.
Member of the Commission
Komisija je 8. maja 2013 pritožbo posredovala Združenemu kraljestvu.
OJ C 452, 2.12.2016, p. 4.
Združeno kraljestvo je pripombe predložilo 1. julija 2013.
Cf. footnote [1].
Komisija je 10. oktobra 2013 poslala zahtevo za predložitev dodatnih podrobnih informacij o domnevnih ukrepih.
See for example the internal reports for the May/June 2013 assessment of the case for continued investment in MMD.
Po tem, ko je leta 2008 družbo pridobil PCC, so njeni poslovni rezultati dosegli izravnavo zlasti zaradi letnih nepovratnih sredstev PCC za prihodek družbe MMD, brez katerih bi med letoma 2008 in 2016 zabeležila izgubo iz poslovanja.
Confidential information.
Proračunsko leto 2016/2017 je bilo prvo leto, v katerem je družba MMD zabeležila dobiček brez nepovratnih sredstev PCC za prihodek (glej preglednico 1).
See, for instance, Judgment of the Court of Justice of 21 March 1990, Belgium v Commission (‘Tubemeuse’) , C-142/87, ECLI:EU:C:1990:125, paragraph 29; Judgment of the Court of Justice of 21 March 1991, Italy v Commission (‘ALFA Romeo’), C-305/89, ECLI:EU:C:1991:142, paragraphs 18, 19 and 20; Judgment of the General Court of 30 April 1998, Cityflyer Express v Commission, T-16/96, ECLI:EU:T:1998:78, paragraph 51; Judgment of the General Court of 21 January 1999, Neue Maxhütte Stahlwerke and Lech-Stahlwerke v Commission, Joined Cases T-129/95, T-2/96 and T-97/96, ECLI:EU:T:1999:7, paragraphs 104 and 109; Judgment of the General Court of 6 March 2003, Westdeutsche Landesbank Girozentrale and Land Nordrhein-Westfalen v Commission, Joined Cases T-228/99 and T-233/99, ECLI:EU:T:2003:57, paragraph 245; Judgment of the General Court of 25 June 2015, SACE v Commission, T-305/13, ECLI:EU:T:2015:435, paragraphs 91 to 93; Judgment of the General Court of 16 January 2018, EDF v Commission, T-747/15, ECLI:EU:T:2018:6, paragraphs 18 to 79.
Nepovratna sredstva za prihodek
See for example Judgment of the Court of Justice of 3 April 2014, ING Groep NV, C-224/12 P, ECLI:EU:C:2014:213, paragraphs 35 to 36.
Pomisleki glede tržnih pogojev za posojilo so bili potrjeni tudi v sporočilu Komisije o referenčnih obrestnih merah iz leta 2008, v skladu s katerim bi bila tržna obrestna mera za družbo v težavah (družba MMD bi bila brez stalne podpore PCC skoraj zagotovo družba v težavah) tudi ob domnevno visoki ravni zavarovanja (za katero ni bilo dokazov) leta 2011 5,48-odstotna, leta 2012 pa 5,46–5,74-odstotna.
See for example Judgment of the Court of Justice of 5 June 2012, EDF, C-124/10 P, ECLI:EU:C:2012:318, paragraphs 84 to 85.
Brez zavarovanja bi bila obrestna mera več kot 11-odstotna.
See for example Judgment of the Court of Justice of 5 June 2012, Commission v EDF, C-124/10 P, ECLI:EU:C:2012:318, paragraphs 79 to 81; Judgment of the Court of Justice of 10 July 1986, Belgium v Commission, 234/84, ECLI:EU:C:1986:302, paragraph 14; Judgment of the Court of Justice of 10 July 1986, Belgium v Commission, 40/85, ECLI:EU:C:1986:305, paragraph 13; Judgment of the Court of Justice of 14 September 1994, Spain v Commission, Joined Cases C-278/92 to C-280/92, ECLI:EU:C:1994:325, paragraph 22; Judgment of the Court of Justice of 28 January 2003, Germany v Commission, C-334/99, ECLI:EU:C:2003:55, paragraph 134.
Združeno kraljestvo je predložilo dokaz, da se cene družbe MMD po tem, ko je leta 2008 družbo pridobil PCC, dejansko niso znižale.
Judgment of 16 May 2002, France v Commission (Stardust Marine), C-482/99, EU:C:2002:294, paragraph 71.
Nasprotno, cene za palete so se v tem obdobju zvišale za skoraj […] %.
See email by […] of […].
Ni relevantno.
See PCC internal evaluation document […] of […].
Skupni donos – presežek in vrednost
Council Implementing Decision (EU) 2019/372
Izvedbeni sklep Sveta (EU) 2019/372
of 5 March 2019
z dne 5. marca 2019