ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. Previous to these positions, she has worked 23 years at Schlumberger, the world's leading provider of reservoir characterization, drilling, production and processing technologies for the oil and gas industry. And so our whole plan that weve announced today, and obviously, very pleased to have made this announcement today, includes for each of these networks solution to convert the coal to other source of feedstock. A very fine, humane gesture that you promised your ENGIE colleagues. Thank you, Emmanuel, for your questions. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. offers FT membership to read for free. So in short obviously, its a topic we could talk for hours. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. First, you will hear from our new CEO, Catherine MacGregor, on the highlights of 2020, followed by our CFO, Judith Hartmann, on our financial performance. And still on the asset rotation, this leaves you probably, I dont know, 12 billion of total proceeds, maybe overall when we put everything all together. And lets now, indeed, look at our priorities for sustainable long-term value creation. Hosted by His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, my dear friend His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan, and Kadri Simson, EU Commissioner for Energy, this is an important forum for advancing Europes #cleanenergy ambitions. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? All information you need to have a pleasant time during the event. And so to in that respect, I think your comment might be valid. Laut Konzernchefin Catherine MacGregor werde man im laufenden Geschftsjahr 2023 einen Gewinn zwischen 3,4 und 4 Mrd. Lets now move to Thermal, which was impacted by scope and FX, notably, 90 million of disposals mainly in Thailand and close to 40 million negative FX impact. Thats really clear. But the idea is that for the big production projects, we will give the Thermal people and the Thermal team, the responsibility to run those hydrogen production plans and projects because some of the skills are actually quite similar. And finally, we also strengthened our position in the rapidly growing market of corporate PPAs with over 1.5 gigawatts of contracts signed in 2020. We have also started to adopt the existing gas transport networks by commissioning three reverse flow installations in 2020, which allow biomethane to flow from the distribution grid to the gas storage units. Its, for sure, a large part of the investment case. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . We also continued to benefit from the cost actions launched in the second quarter. Thank you Renata Spada for being yourself and authentic. Our near-term priority in the region is to commission two major electricity transmission projects. At the event, we were pleased to highlight how #Masdar is working with our partners in Azerbaijan to develop world-class clean energy projects like the 230 MW Garadagh Solar PV Plant, with further agreements to develop up to 10GW of clean energy capacity across #onshorewind, #offshorewind, #solar, and #greenhydrogen projects. Organically, these evolutions were slightly better. Tout au long de cette priode, les quipes d'Elengy, Storengy - ENGIE, GRTgaz, GRDF Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de gaz a baiss de 6,2% en France en . As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. So that is roughly what you have to have in mind. And this is something, obviously, that we are going to continue and push. In the summer of 2019, she chose to pursue her career in the energy industry by joining the Executive Committee of the TechnipFMC Group to lead its onshore and offshore engineering and construction activities, Technip Energies. And importantly, we reaffirm our dividend policy, which relies on a 65% to 75% payout ratio on the basis of net recurring income group share. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." We delivered for our customers while continuing to invest in major capital projects. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. French Networks had limited COVID impact also mainly on distributed gas volumes. So I was wondering whether you could share some thoughts on perhaps where you might be able to get back to perhaps over the medium term in that business? But in short, we have big ambition, but we will be disciplined. Estabelecer as diretrizes legais e normativas para incentivar a contratao de pessoas com 50 anos ou mais nas organizaes privadas atravs da reduo de impostos sobre a folha destes empregados. Now the guidance for 2021. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. But let me reassure you, there are several processes that have been launched, and so were confident that we can move at speed to really help simplify the group through the disposals. And when we reflect about some of the trends around electrification, around the growth in renewables, we realize that flexibility, dispatchability are going to be very important to the future of the energetic mix. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. I mentioned earlier two things actually. And on gender diversity, we maintained 24% women in management of the group, and this must continue to be an area of focus for us in the coming years. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. Maybe some thoughts. It mainly affects our renewables and supply activities. We have a French-regulated asset base of 28 billion, which makes us one of Europes largest gas network operators and a growing footprint in networks internationally. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. COI decreased mainly driven by a 600 million impact from the pandemic. And given that theyre contracted, to maybe accelerate other areas of the business? And the second one, if I may ask, around Client Solutions. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. And in terms of the supply, were really expecting supply to recover mainly from less COVID impacts, also looking at the temperature, which will improve. When we mentioned the 2 billion of additional disposal to drive simplification, the topics you know about, of course, the strategic reviews that we have announced. You may now disconnect. Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. We have a very nice digital platform to help us manage our assets better. Every Friday at a quarter past 10, the fire alarm. We think, in general, gas is going to be important in this energy transition. And to this end, Im very pleased to announce our next event on the 18th of May, where Judith and I will cover both our Q1 results and provide you with a medium-term strategic plan and guidance. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, Catherine MacGregor | 2021 Most Powerful Women International | Fortune In Nuclear, we expect contribution to increase as volumes should be higher, thanks to better availability. One second, it will be over soon. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. That will put pressure on Ms MacGregor to make her mark . The final area of 2020 performance I would like to highlight is the groups continued progress in growing our renewable portfolio, which has grown significantly by 32% since the end of 2018. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. Pour viter se gchis financier avec l'argent des franais In emerging markets, the importance of gas is driven not just by economic growth but also by reducing exposure to higher emitting sources such as coal. For example, in addition to the Amazon contract that I mentioned earlier, ENGIE will supply 3 terawatt hours of renewable energy to the global chemicals group, INEOS, through a 10-year corporate PPA. You mentioned the COVID impact and how to think about it in 2021. And Im sure thats a question youve been reflecting on as you took up the new role. She has spent her entire career in the energy sector. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. Thats one thing. Catherine MacGregor Wikipdia Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. Or does it have its own game plan? The current total coupon of 100 million per year has been reduced by 28% since 2017. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. So and then maybe Ill add that there is also, I think, a lot of things we can do and we are doing, and we will continue to do and even increase around industrialization, procurement, supply chain, of course, digital. Nothing much more structural than that really, James, on supply improvement. All options for the sale of Equans, the newly-created services unit of French energy group Engie (ENGIE.PA), are being considered, including a possible listing, Chief Executive Catherine MacGregor . Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. Ms MacGregor is 48, she's been the Chief Exec. Yes, two topics that you were talking about, Peter. CEO - Engie. Biography. And one of the things to keep in mind, when you say how can you speed up is also that we have less sell downs in Renewables in 2021. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ET, Aarti Singhal Director of Investor Relations, Catherine MacGregor Chief Executive Officer, Judith Hartmann Chief Financial Officer. In Networks, lower RAB remuneration rates in France should be offset by the reversal of 2020 warm temperatures as well as continued growth in Latin America. Offshore wind is typically much longer. We will now take our next question from Sam Arie with Union Bank of Switzerland. So to summarize, ENGIE made progress at pace in 2020. Catherine Macgregor, Engie SA: Profile and Biography Biography [ edit] So let me start then with your question on Thermal. But we really want to focus on a return-based growth strategy. Biography of Catherine MacGregor - The Official Board En 2020, elle est pressentie pour diriger Technip Energies, une socit en cours de cration base Paris d'environ 12000personnes issue de la scission de TechnipFMC en deux entits spares. Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. So there will be a capital gain on this. Its going to take us some time. Okay. So lots of enthusiasm around renewable. 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Great post Catherine Fiamma MacGregor! is its Ocean Winds joint venture with EDPR. and other data for a number of reasons, such as keeping FT Sites reliable and secure, ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. This was due to higher contributions from entities with minorities, which fully contributed at EBITDA and COI levels but only contributed at share at net recurring income group share level. So thats a positive. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. And then on your DBSO question, what were expecting for 2021 is roughly in line with what we had in 2020, so just below 100 million. Net income group share stood at negative 1.5 billion. As CEO, Catherine MacGregor will focus on defining and implementing the Group's strategic road map, in particular around the two priority areas announced in July 2020 by the Board of Directors: speeding up growth in renewable energies and energy infrastructure such as cooling and heating networks. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. On 14th of January, I announced a new executive committee, and Im very pleased that Paulo, Edouard, Ccile and Sbastien have started their new business roles. #Renewables: We have commissioned 2.5 GW of new #renewableenergy capacity since January and are on track to reach 4 GW by the end of the year. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. That's where the "trim tab" comes in. On quick one on numbers, on guidance. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. I think these are really, really good questions. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . Joe Biden teaches the EU a lesson or two on big state dirigisme, Elon Musks Twitter is dying a slow and tedious death, Who to fire? H2, I'm looking forward to continuing to make a difference together. Learn more in our Cookie Policy. A quick word on the agenda for this morning. Here's a bit more, on climate change and from a few years ago, but still relevant. MacGregor is poised to become the only woman leading a company in the CAC 40France's benchmark stock indexwhen she takes the reins at the utility Engie on Jan. 1. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. French utility's new chief Catherine MacGregor to increase investment in renewables. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Is it something that could be you realize value of and take advantage of low rates? The Board of Directors announces the appointment of Catherine MacGregor The renewables COI, could you break that down, if you dont mind, into the change in hydro versus wind and solar in the 2020 numbers? According to the IEAs latest sustainable development scenario, in Europe alone, energy from biomethane and hydrogen could potentially grow three times from 2019 levels to over 300 terawatt hours in 2030. So these are some of the things that we are excited about when we think about our network assets, and we like it. This is one of the largest renewable PPAs signed with an industrial group in Belgium and demonstrates the growing appetite for PPAs from a broader range of customers. ENGIE is a major player in the energy sector, and we are extremely well placed to tackle most of the challenges posed by this transition. MacGregor will take the helm at Engie in January 2021, joining from TechnipFMC Group where she has spent just over a year as head of Technip Energies. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. So I would like to hear your opinion, how maybe your story might be slightly different from electric renewables players, how we maybe think about the gas network as a funding option for the renewables growth. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. Now Ill comment on the bridge from net recurring income group share to net income group share, which was negative 1.5 billion in 2020. So for my question, the first is on the asset rotation. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. And then just another one on guidance. Sign up for more in-depth articles and insights. We support credit card, debit card and PayPal payments. Yes. Recharge is part of DN Media Group AS. You mentioned that you would also phase out coal in district heating. So youve been talking about investment discipline. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Therefore, we do continue that we do think that gas will continue to play a very key role. Significant growth is also expected in the use of renewable gases to accelerate the energy transition. click here. Siga o link abaixo e deixe seu apoio a esta poltica de incluso necessria ao nosso pas. And I was interested to get your philosophy about minorities. And how quickly do you think it can actually contribute to your earnings, please? We have made the decision to stop the work to prepare for this such an extension. Yes. And the answer is yes. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. Do you see eventually opportunities in the future going forward with the convergence between power network and gas network considering the evolution of the hydrogen, Catherine? And I was very pleased to hear that you put simplification at the center of your new vision for the group. So maybe I will start with your last question, which is around the decision on nuclear. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. Many thoughtful leaders throw up their arms when it comes to taking action on climate change, thinking, understandably, that their company is just a drop in the bucket. In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. Tax charges were 300 million lower mainly due to the decrease in profit. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for 1 for 4 weeks, You will be billed 65 per month after the trial ends, Russian far-right fighter claims border stunt exposes Putins weakness, Germany seeks to buy Leopard tanks from Switzerland, Germany and Italy stall EU ban on combustion engines, Ukraine asks EU for 250,000 artillery shells a month, Russia on alert after reconnaissance group crosses over from Ukraine, Panic station at Fox News: how the Murdochs agonised over Trumps loss, Saudi owner of Londons most expensive house sued over alleged unpaid private jet bills, UK housing market braced for make-or-break spring, UK cabbage king turns to plant-based proteins, Airlines plan to sue Dutch government over Schiphol airport flight cap, There are no domestic equity investors: why companies are fleeing Londons stock market, Live news updates from March 3: Amazon pauses HQ2 construction, UK regulators launch LME probe, Deluge of inflation data pushes US borrowing costs to 2007 levels, FCA regulator blamed for Arms decision to shun London listing, Clutching Warrens letter, Im still positive on stocks. French energy group Engie's ENGIE.PA board is set to appoint Catherine MacGregor, a top executive at Franco-American oil services firm TechnipFMC FTI.N as CEO, eight months after the ouster of Isabelle Kocher, a source familiar with the situation told Reuters. You can see that on the recent months trading for renewable players. Strong management actions allowed us to variablize and reduce total OpEx by approximately 300 million. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Yes. Therefore our industry is [], ENGIE steps up its energy transition, targets renewables, MacGregor to supply RoRo equipment for K Lines LNG-powered newbuilds, Equinor and Engie press ahead with H2BE hydrogen project in Belgium, Engie names Catherine MacGregor as new CEO, MacGregor to supply all-electric RoRo equipment to H-Lines PCTCs, MacGregor to equip 4 more Hegh Autoliners multi-fuel PCTCs, In focus: Investments in oil, offshore wind hit a snag. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. or I think we are now about time, so I would like to thank you for your attention. We invested 7.7 billion of CapEx in total. We completed the SUEZ transaction in October and launched further strategic reviews. Please. And it would be helpful if you could highlight for us any meaningful one-offs embedded in the 2020 results, whether positive or negative that we should bear in mind as we build our bridge to 2021? I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. You certainly have a lot of people out here who want you to be very successful. And if so, what quantity? Read more about DN Media Group here. Hopefully, thats an easy one, but would be very helpful. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. But really appreciate, thanks again ! Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. We have some core competencies. Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. Thanks to Faye Kirby and Valencia Anderson for setting up the display and sharing books written by black authors. With respect to the recent extreme weather events in Texas, we are assessing the situation. Pascal Frings., Assistente de Planejamento e Controle I | ENGIE Brasil | Gesto de Frotas | Logstica | Atendimento ao Cliente | Administrao Estcio, Bizarre, je suis un employ d'Engie et je n'ai pas reu , I am really very Happy after Hearing that Engie is going to make strong and strong renewable resources that makes to process competency of whole work which is going on this projects as i would proudly feel good i wish if you have any vacancy in the Engie organization i would definitely prefer to work this organisation as my last experience were quite satisfactory in Allied Maintenance Company Pvt Ltd at Tabuk Project in Saudi Arabia even i was working two years as store supervisor in Tabuk Projects i forwarded my resume to one of your recruiter for store supervisor as i have 12 years experience in the maintenance Departments like Civil, Plumbing, Mechanical,HVAC, Gardening, Cleaning and most importantly PGP Department. Engie board set to appoint Catherine MacGregor as new CEO. Catherine MacGregor: The winds of change - Leaders League Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. A key area of value creation from renewables is the ability to commercialize energy with new and innovative solutions for customers, and we have made great progress on this front. We have progressed on simplifying the group. And then I also had a question on the coal phase out. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. It honors and commits me. We are experts in sourcing projects, in dealing with permitting, land ownership issues, financing, partnering, environmental assessment and all that good stuff as well as aspects of social acceptability, which is really important in the development of renewables as you know. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. It seems to be the trend last few questions. These headwinds were partly offset by a 700 million positive change in working capital requirements from energy management activities driven by dynamic management of margin calls in 2020 in a context of extreme volatility of commodity prices.
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