natgillin/translations-raw huggingface dataset:
The Commission considers that the circumstances of this capital increase alone demonstrate that the risks run by the private and public investors are not identical.
Nedläggning av dotterbolaget Corsica Marittima (82000 passagerare år 2000), som ansvarade för förbindelserna mellan Italien och Korsika, vilket innebär att SNCM-gruppen lämnar marknaden för trafik mellan Italien och Korsika.
The existence of the cancellation clause and the conditions attached thereto suffice to show that the respective outcome for the private investors and the public investor in terms of risk is not the same should the conditions set out in the clause be fulfilled.
Nedläggning (i praktiken) av förbindelserna mellan Toulon och Korsika, en marknad som 2002 motsvarade 460000 passagerare.
In accordance with the memorandum of understanding, private investors have the option of withdrawing and recovering their investment in the event of a negative decision by the Commission, the General Court or the Court of Justice, or of non-renewal of the public service delegation.
Begränsning av det totala antalet platser och turer per år från och med 2003, särskilt på förbindelsen mellan Nice och Korsika.
This latter part of the cancellation clause is all the more penalising for the State as it concerns SNCM’s core activity.
Försäljning av fyra fartyg.
Private investors are therefore protected by the cancellation clause against the commercial risk in respect of the majority of SNCM’s activities.
När det gäller den försäljning av fyra fartyg som föreskrevs vid omstruktureringen 2002 konstaterar kommissionen att dessa avyttringar delvis har uppvägts genom leveransen av Danielle Casanova i juni 2002, det kombinerade last- och passagerarfartyget Paglia Orba och det kombinerade last- och passagerarfartyget Pascal Paoli 2003.
This risk is actually borne by the State alone.
När det gäller nedläggningen av Corsica Marittima anges särskilt följande i punkt 40 i riktlinjerna:
Invoking the aforementioned cancellation clause would generate an obligation to reimburse all of the capital contributions of the buyers by SNCM for the benefit of these private investors.
”Avskrivningar och nedläggning av förlustbringande verksamhet som under alla omständigheter är nödvändiga för att återställa lönsamheten kommer inte att bedömas som en minskning av kapaciteten eller marknadsnärvaron vid bedömningen av kompensationsåtgärderna”.
This would leave CGMF once more holding 100 % of SNCM’s capital, at a time when the risk of liquidation and hence of the loss of a significant portion of the public investment will have increased substantially.
Nedläggningen av Corsica Marittima som gått med förlust sedan bildandet 1990 kan alltså inte räknas som en kompensationsåtgärd utan snarare som en åtgärd för att återställa den långsiktiga lönsamheten.
As for the promise to purchase by the private shareholders, this cannot be invoked by CGMF in the event of the receivership or liquidation of SNCM.
Samma resonemang gäller också för trafiken mellan Nice och Korsika.
This confirms that, in the event of difficulties, this option cannot be invoked, and the risks are borne essentially by CGMF and hence the State.
Kommissionen konstaterar att SNCM har en minoritetsandel av marknaden och att Corsica Ferries France har 70 % av marknaden [164].
Furthermore, the Commission cannot accept the French authorities’ argument that the memorandum of understanding contained a series of guarantees intended to protect the State’s investment.
Det finns också en efterfrågan utanför sommarperioden.
The obligations imposed on the buyers do not constitute additional risks or constraints placed on the buyers that would leave them in a situation comparable to that of CGMF.
Dessutom konstaterar kommissionen att passagerartrafiken har ökat betydligt mellan Korsika och hamnen i Toulon, från mindre än 200000 passagerare om året 1999 till nästan 1 miljon 2007 [165].
They are solely intended to ensure that, during the period in which the cancellation clause may be invoked by the private buyers, the latter do not make any legal modification to SNCM and carry out only those actions which are necessary in order to implement the business plan and the social pact.
Att SNCM så gott som helt upphör med trafiken på denna linje skulle alltså kunna betraktas som en kompensationsåtgärd.
Furthermore, as underlined by the General Court in its judgment of 11 September 2012, an analysis of the expected return is not in itself enough to enable the conclusion to be drawn that the investment was made by the State on market conditions, given the fact that the risks are not shared equitably between the public and the private shareholders.
Kommissionen konstaterar dock att linjen Toulon–Korsika är SNCM:s minst trafikerade i fråga om passagerare.
Even if the condition of ‘investments made on equal terms’ (‘pari passu’) is not fulfilled, the measure can still be compliant with the principle of the private investor in a market economy.
Även om denna åtgärd skulle betraktas som en kompensationsåtgärd anser kommissionen att den inte skulle vara tillräcklig.
In such cases, it has to be shown that the State acted in the same way as a prudent private investor in a similar situation, for example by carrying out ex ante analyses of the profitability of the investment.
Följaktligen konstaterar kommissionen att dess tvivel på att dessa åtgärder kan betraktas som kompensationsåtgärder eller som nödvändiga åtgärder för återgång till lönsamhet inte har undanröjts.
However the French authorities have not provided proof of any such ex ante analysis.
Under alla omständigheter är de föreslagna åtgärderna fortfarande långt ifrån tillräckliga.
They only considered in their observations ex post that the fixed rate of return of […] [60] Confidential information.
De franska myndigheterna har tagit upp risken för monopol för CFF om SNCM försvinner.
% would be adequate for a private investor, by comparing it with the rates of return on an OAT (Obligation Assimilable du Trésor) issued by the State, and on which the return at the time was between 3,72 % and 3,95 %.
Kommissionen anser att de franska myndigheterna inte i tillräcklig grad har visat att det finns sådan risk och att den är betydande.
They did not, however, provide any analyses to show that the rate of 10 % would have been acceptable for a private investor, given the risks borne by the State, e.g. the risks relating to the termination clause and those linked to the situation of the undertaking.
Passagerar- och godstrafiken mellan det franska fastlandet och Korsika är en öppen och konkurrensutsatt marknad för alla aktörer i Medelhavsområdet.
Above all, the rate of […] [60] Confidential information.
Marknaden har inte heller några hinder för inträde.
Given that there is no return associated with the negative sale price of EUR 158 million or with the current account advance of EUR 38,5 million, the rate of return on the State’s entire investment in SNCM at the time of privatisation in 2006 would have been significantly lower than the rate of return on an OAT.
Därför konstaterar kommissionen att de föreslagna åtgärderna inte uppfyller de kriterier som anges i punkterna 38–42 i riktlinjerna.
Given the risks involved, this rate would not have been accepted by a private investor in a market economy.
OFÖRENLIGHET OCH ÅTERKRAV PÅ DET KAPITALTILLSKOTT SOM DE FRANSKA MYNDIGHETERNA ANMÄLDE 2002 OCH DE TRE NYA ÅTGÄRDER SOM DE FRANSKA MYNDIGHETERNA VIDTOG 2006
The Commission considers, therefore, that the State’s capital contribution of EUR 8,75 million confers an economic advantage on SNCM inasmuch as that contribution was made in parallel with a contribution of private capital under conditions which are not comparable within the meaning of Union case law.
Detta stöd är oförenligt med den gemensamma marknaden.
Consequently, the measure in question constitutes State aid within the meaning of Article 107(1) TFEU.
Kommissionen påminner om att i enlighet med artikel 14.1 i förordning (EG) nr 659/1999 ska allt stöd som är olagligt och oförenligt med marknaden återkrävas från mottagaren.
Measures involving aid to individuals (EUR 38,5 million)
Vid återkravet ska de franska myndigheterna också till detta stödbelopp lägga ränta som löper från och med den dag då det berörda stödet ställdes till företagets förfogande till dess att det faktiskt återbetalats [166], i enlighet med kapitel V i kommissionens förordning (EG) nr 794/2004 [167].
The French authorities consider that this funding constitutes aid to individuals which does not benefit the undertaking and therefore is not State aid.
OFÖRENLIGHET OCH ÅTERKRAV AV UNDSÄTTNINGSSTÖDET
The interested parties CCF and STIM contested the categorisation of this measure as aid to individuals because they consider that the measure could generate indirect positive effects for SNCM.
Normalt sett skulle det undsättningsstöd som de franska myndigheterna beviljat SNCM och som omfattades av kommissionens beslut av den 17 juli 2002 återkrävas från och med den tidpunkt då de anmälda åtgärderna inom ramen för undsättningsstödet inte längre uppfyllde de villkor för förenlighet som anges i riktlinjerna
The Commission considers that the fact that the direct beneficiaries of the aid to individuals are employees is not sufficient to demonstrate the absence of aid for the benefit of their employer.
Den 19 november 2002 vidarebefordrade de franska myndigheterna en kopia av överenskommelser om likviditetslån mellan SNCM och CGMF samt bevis för att CGMF återbetalat lånet till SNCM genom två överföringar den 13 maj och 14 juni 2002.
The General Court held that:
HÄRIGENOM FÖRESKRIVS FÖLJANDE.
‘the fact that the direct beneficiaries of the aid to individuals are employees is not sufficient to demonstrate that no aid had been provided to their employer.’ [155].
Artikel 1
Furthermore, the Commission notes that, according to the memorandum of understanding, this measure is a commitment by the State towards the private partners to finance ‘the proportion of the cost of possible voluntary departures or breach of employment contracts (whatever their nature) which is in addition to sums of all kinds which must be paid by the employer …’ As the General Court states in paragraph 145 of the judgment of 11 September 2012, the inclusion of this aid to individuals in the sale agreement tends to show that it creates an advantage.
Artikel 2
The parties had recourse to it because they could derive a certain advantage from it.
Frankrike ska från stödmottagarna återkräva det oförenliga stöd som har beviljats enligt den stödordning som avses i artikel 1.
This aid is therefore liable to confer an economic advantage on SNCM by releasing it from the obligation to bear all the costs connected with the potential future departure of certain employees.
Det stöd som ska återkrävas ska innefatta ränta från och med den dag då stödet ställdes till stödmottagarnas förfogande till och med den dag det har återbetalats
If an undertaking is relieved of these costs by the State, it effectively receives an advantage.
Räntan ska beräknas som sammansatt ränta enligt kapitel V i förordning (EG) nr 794/2004 och kommissionens förordning (EG) nr 271/2008 [168] om ändring av förordning (EG) nr 794/2004.
The Commission stresses that these supplementary social measures are intended to facilitate the implementation of the redundancy plans necessary to attain the objectives of the undertaking, and that they are not a statutory requirement.
Artikel 3
In this case, the frequency of industrial action within SNCM shows that the implementation of a social plan in the undertaking as much as guarantees the outbreak of strikes and other industrial action.
Återkravet av det stöd som har beviljats enligt den stödordning som avses i artikel 1 ska genomföras omedelbart och effektivt.
There is absolutely no doubt that these additional social measures constitute an advantage for SNCM.
Frankrike ska säkerställa att detta beslut genomförs inom fyra månader efter den dag då detta beslut har delgivits.
The Commission considers, therefore, that this measure constitutes aid within the meaning of Article 107(1) TFEU.
Artikel 4
The balance of EUR 15,81 million awarded as restructuring aid in 2002
Under de två månader som följer på delgivningen av detta beslut ska Frankrike överlämna följande uppgifter till kommissionen:
When privatisation was envisaged, the restructuring plan was still under way.
En detaljerad beskrivning av de åtgärder som redan har vidtagits eller som planeras för att rätta sig efter detta beslut.
However, the intended aim of restoring viability had not been achieved by SNCM.
Dokument som visar att stödmottagaren har anmodats att betala tillbaka stödet.
The General Court highlighted that ‘[i]n that regard, it must be noted that the 2006 Decision is explicit on the fact that, as there are elements of aid for restructuring in the 2006 Plan, those elements ought to be analysed in conjunction with the aid for restructuring in the 2002 Plan …’ [156].
Frankrike ska hålla kommissionen underrättad om utvecklingen vad gäller de nationella åtgärder som har vidtagits för att genomföra detta beslut till dess att det stöd som avses i artikel 1 har återbetalats.
The General Court underlines that this analysis was carried out ‘on a sound basis’.
Frankrike ska på kommissionens begäran omgående lämna uppgifter om de åtgärder som redan har vidtagits eller som planeras för att rätta sig efter detta beslut.
The sum of EUR 69,29 million comprises the EUR 66 million granted in 2002 as the first instalment of the restructuring plan and the EUR 3,29 million in aid granted in 2005 as the second instalment.
Frankrike ska också lämna detaljerade uppgifter om de stöd- och räntebelopp som redan återkrävts av stödmottagaren.
Of this amount of aid granted under the 2002 restructuring plan, EUR 53,4 million concerns in reality the public service delegation.
Artikel 5
Since the General Court judgment of 11 September 2012 confirmed the legality of this aid, the Commission must examine jointly the compatibility of the restructuring aid proper, i.e. the EUR 15,81 million granted during the 2002 restructuring operation, and the compatibility of all of the 2006 measures in the light of the 2004 guidelines.
Detta beslut riktar sig till Republiken Frankrike.
EXAMINATION OF THE COMPATIBILITY OF THE RESTRUCTURING AID PAID IN 2002 AND 2006
Utfärdat i Bryssel den 20 november 2013.
Guidelines to consider
På kommissionens vägnar
The Commission notes that the 2002 restructuring plan was examined under the 1999 guidelines.
Vice ordförande
It also notes that the new 2006 measures integrating the 2002 plan post-date the entry into force of the new 2004 guidelines and were implemented before the Commission had authorised them.
Från och med den 1 december 2009 har artiklarna 87 och 88 i EG-fördraget blivit artiklarna 107 respektive 108 i fördraget om Europeiska unionens funktionssätt (EUF-fördraget).
In accordance with the transitional rules provided for by the 2004 guidelines [157], it is these guidelines which apply to the aid, inasmuch as it is illegal aid part of which was awarded after they entered into force.
I båda fallen är bestämmelserna identiska till innehållet.
Consequently, since the 2006 measures constitute aid, they are to be regarded as an integral part of the restructuring operations launched in 2002 and should be analysed alongside these.
I detta beslut ska hänvisningar till artiklarna 107 och 108 i EUF-fördraget där så är lämpligt förstås som hänvisningar till artikel 87 respektive 88 i EG-fördraget.
The compatibility of all of this aid will, therefore, be analysed under the 2004 guidelines.
I EUF-fördraget införs dessutom vissa ändringar av terminologin, exempelvis att gemenskapen ersätts med unionen, den gemensamma marknaden med den inre marknaden och förstainstansrätten med tribunalen.
‘A firm in difficulty’
Det är terminologin i EUF-fördraget som används i detta beslut.
In the present case, the Commission points out that fulfilment of this condition was ascertained in its decision of 17 July 2002 on rescue aid for SNCM [158] and in its decision of 19 August 2002 initiating the formal investigation procedure in respect of the recapitalisation plan on the basis of SNCM’s annual accounts for 2001.
53.
For the purposes of this decision, the Commission verified that SNCM satisfied the said condition by examining the company’s annual accounts for 2002.
Registrerad under TREN A/61846.
The company’s capital (excluding regulated provisions) [159] was still negative: EUR – 26,5 million in 2002 compared with EUR – 30,7 million in 2001.
CGMF är ett finansiellt holdingbolag som till 100 % ägs av den franska staten och som av denna har getts i uppdrag att ansvara för all statlig sjöfart, rederiverksamhet och befraktning av fartyg i Medelhavet.
That level reflects the disappearance of more than half of the company’s registered capital, more than a quarter of which disappeared during the 12 months following the notification, thus satisfying the condition set out in point 10(a) of the Guidelines.
EUT C 148, 25.6.2003, s.
As well as that trend in the share capital, the Commission notes, inter alia, that:
7.
between 2001 and 2002, pre-tax losses increased from EUR – 5,1 million in 2001 to EUR – 5,8 million in 2002, with net losses in 2002 reduced only through the sale of a number of vessels,
EGT C 308, 11.12.2002, s.
SNCM’s cash flow dropped from EUR 39,2 million at the end of 2001 to EUR 35,7 million at the end of 2002,
29.
financial charges (interest and similar charges) increased from EUR 7 million in 2000 to EUR 9,503 million in 2002.
1).
Moreover, the French authorities confirmed to the Commission that the banks were now refusing to lend money to the company because of its indebtedness, even though SNCM had offered to put up its newest vessels, free from mortgages and other encumbrances, as security.
Den 11 september 2002 begärde de franska myndigheterna att vissa faktafel i beslutet av den 19 augusti 2002 skulle rättas till.
The public service delegation agreement did nothing to change that analysis.
Den 27 november 2002 antog kommissionen ett beslut om ändring av beslutet av den 19 augusti 2002 (offentliggjort i EGT C 308, 11.12.2002, s.
While the agreement, in conjunction with the success of the restructuring plan, undoubtedly enabled SNCM to achieve positive operating results, the fact remains that its acute lack of capital, its growing indebtedness and the cost of operational measures under the restructuring plan can be expected — within a certain time-frame — to cause the company to fold.
29).
It must now be verified whether SNCM continued to meet the condition in the 2003-05 financial years, i.e. the last complete accounting years prior to the implementation of the new measures in 2006 relating to the privatisation of SNCM.
Registrerad under SG(2002) A/10050.
As already indicated in recitals 73 et seq., SNCM’s situation deteriorated significantly in 2004 and 2005.
Registrerad den 15 januari 2003 under DG TREN A/10962.
The company’s profits before tax stood at EUR – 32,6 million in 2004 and EUR – 25,8 million in 2005.
Registrerad under SG(2003) A/1691.
Net profit was EUR – 29,7 million in 2004 and EUR – 28,8 million in 2005.
Registrerad under TREN A/21531.
Shareholders’ equity in 2005 (EUR – 1,7 million) dropped by 25,5 million compared with 2004.
Registrerad under SG(2003) A/1546.
This drop saw more than half of the firm’s share capital wiped out, with more than a quarter of that capital lost over the preceding 12 months, thereby meeting the criteria set out in point 10(a) of the 2004 guidelines.
EGT C 288, 9.10.1999, s.
In the light of the foregoing, the Commission considers that SNCM can be considered a firm in difficulty within the meaning of the 2004 guidelines.
2.
Own contribution
Registrerad under TREN A/21701.
Pursuant to point 43 of the guidelines, ‘The amount and intensity of the aid must be limited to the strict minimum of the restructuring costs necessary to enable restructuring to be undertaken in the light of the existing financial resources of the company, its shareholders or the business group to which it belongs.
Kommissionens beslut 2004/166/EG av den 9 juli 2003 om det omstruktureringsstöd som Frankrike har för avsikt att lämna till Société Nationale Maritime Corse-Méditerranée (SNCM) (EUT L 61, 27.2.2004, s.
Such assessment will take account of any rescue aid granted beforehand.
13).
Aid beneficiaries will be expected to make a significant contribution to the restructuring plan from their own resources, including the sale of assets that are not essential to the firm’s survival, or from external financing at market conditions.
Kommissionens beslut 2005/36/EG av den 8 september 2004 om ändring av beslut 2004/166/EG om det omstruktureringsstöd som Frankrike har för avsikt att lämna till Société Nationale Maritime Corse-Méditerranée (SNCM) (EUT L 19, 21.1.2005, s.
Such contribution is a sign that the markets believe in the feasibility of the return to viability.
70).
Such contribution must be real, i.e., actual, excluding all future expected profits such as cash flow, and must be as high as possible.’
EUT C 16, 21.1.2006, s.
Point 44 of the guidelines stipulates that ‘The Commission will normally consider the following contributions to the restructuring to be appropriate: at least 25 % in the case of small enterprises, at least 40 %, for medium-sized enterprises and at least 50 % for large firms.
20.
In exceptional circumstances and in cases of particular hardship, which must be demonstrated by the Member State, the Commission may accept a lower contribution.’
Se förstainstansrättens dom av den 15 juni 2005 i mål T-349/03, Corsica Ferries France SAS mot Europeiska kommissionen, REG.
Point 7 of the guidelines also specifies that ‘it is appropriate to reaffirm with greater clarity the principle that [the substantial contribution from the beneficiary to the restructuring] must be real and free of aid.
2005 s.
The beneficiary’s contribution has a twofold purpose: on the one hand, it will demonstrate that the markets (owners, creditors) believe in the feasibility of the return to viability within a reasonable time period.
II-2197.
On the other hand, it will ensure that restructuring aid is limited to the minimum required to restore viability while limiting distortion of competition …’
Registrerad under TREN A/27546.
The case-law also emphasises that the own contribution must indicate that the markets believe in the feasibility of a return to viability [161].
Registrerad under TREN A/30842.
The Commission stresses that this requirement is particularly relevant in respect of SNCM because of the latter’s situation since 2002.
Kompletterande upplysningar översändes i skrivelser av den 30 november 2005 (SG(2005) A/10782), 14 december 2005 (SG(2005)A/11122) och 30 december 2005 (TREN A/10016).
The Commission points out that the initial restructuring measures of 2002 did not achieve the desired results.
Registrerad under TREN A/16904.
Some of them were either not complied with or not attained (see recital 351).
Registrerad under TREN A/19105.
Since SNCM was not able to fully implement these initial restructuring measures, from 2004 its economic and financial situation continued to deteriorate (see recitals 73 to 75).
Domstolens dom av den 24 juli 2003, Altmark Trans GmbH e.
The restructuring costs amounted to EUR 46 million in 2002.
Nahverkehrsgesellschaft Altmark GmbH, (280/00, REG. s.
As for the 2006 measures, the Commission considers that the amount of the restructuring costs corresponded to the amount of the aid [162], i.e. EUR 202,5 million, plus the EUR 26,25 million capital contribution from the private partners, giving a grand total of EUR 274,8 million.
7747).
The own contribution is made up of 42,385 million in net asset sales and the EUR 26,25 million capital increase by the private partners, giving a total own contribution of EUR 68,635 million.
Rådets förordning (EG) nr 139/2004 av den 20 januari 2004 om kontroll av företagskoncentrationer (”EG:s koncentrationsförordning”) ( EUT L 24, 29.1.2004, s.
Consequently, taking into account the new measures of 2006, the own contribution accounted for 25 % while the guidelines stipulate that it must be at least 50 %.
1).