We see a huge potential for hydrogen, and we are already making significant progress in biomethane. Learn more in our Cookie Policy. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. Is this happening to you frequently? The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . Very yes, good question. Catherine MacGregor a rejoint le groupe ENGIE le 1. er. Un article de Wikipdia, l'encyclopdie libre. La situation en France depuis plus de 50 ans On the strength of our shared industry culture and my operational experience, I will work with all of our teams to achieve our goal of enabling Engie to accelerate the energy transition.. As a leader in gas networks, we are playing a critical role in enabling an affordable and smooth energy transition, and we are promoting a progressive increase in the role of renewable gases. And Judith will give you a little bit of the background and more details on the rest. Its been a period in which the sector was exceptionally strong. On the renewables COI for 2020 of about 1.1 billion, basically, you can assume that the main contributors were hydro and wind, hydro about 700 million of that and wind was the rest. Simply log into Settings & Account and select "Cancel" on the right-hand side. Overall, we currently estimate a potential net impact at the group COI and net recurring income group share level of between 80 million to 120 million. Welcome to the utilities world. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. It is a great source, among others, of motivation and satisfaction to continue the (so essential) low-caborn transition in an extremely challenging environment , | Financial Reporting |Taxation| Month, Year-end Closings |Corporate Accounting| Financial Statement Analysis| SAP Hana FICO |IFRS. Yes. PDF CATHERINE MACGREGOR Chief Executive Officer - Engie Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. Siga o link abaixo e deixe seu apoio a esta poltica de incluso necessria ao nosso pas. 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. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. And moving now to our international networks, where we are leveraging the deep networks experience we have in Europe. We have a high performing gas fleet, as you know, which is very important in our mind to bring the flexibility to the system. But in short, we have big ambition, but we will be disciplined. And Im really I am personally convinced, enthusiastic about the idea of having a very sharp focus on capital allocation making sure that all of our managerial efforts go in the direction that weve announced, and well be able to show very positive results. 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 indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. In 2020, most of our newly commissioned assets were onshore wind followed by solar. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. Before I share my view on 2021, here are our 2020 financial highlights. 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. Simply log into Settings & Account and select "Cancel" on the right-hand side. So first to reiterate on that, we are very pleased with our position on renewables, and we are leader in France. This has been a concern for the market. Higher D&A was mainly due to accelerated amortization of some distribution assets. Maybe I will start with your second question, which relates to the coal used in DHC. Areas of expertise ; It's inspiring to see how ENGIE's strategy for a balanced, affordable, and resilient energy mix has proven its relevance in these uncertain times. As CEO of ENGIE, I am particularly proud of what we have achieved with our teams. organisation Onshore wind can be 1.5 years. We think, in general, gas is going to be important in this energy transition. As we are reminded by extreme events, such as the recent ones in Texas, it is critically important that decarbonization of the energy mix is both reliable and affordable. Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). This is what I am committed to. university Also on the same point, risking up or risking down in the future strategy, what is your view on how the risk profile for ENGIE should change going forward? Organically, these evolutions were slightly better. Indeed, you can expect positive cash flow operation from our nuclear activities. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. Net recurring income group share was within the guidance range, and Judith will cover financial performance in more detail shortly. And second, its really focused and making sure that everybody pulls in the same direction. No, absolutely. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. With respect to the recent extreme weather events in Texas, we are assessing the situation. We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. And I think the way I want to say this is I think we know the broad plan now for the business, but I think its also important to look back at the last 5 years and understand why essentially the investment thesis has not delivered so far for shareholders. And hopefully, we can share more of that in May when we come back to you. Its two and probably a little bit more early. January 7, 2021. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. Sure. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. Euro erzielen. Thank you #HariPrasad #PulakPrakash #PallavGogoi #AmitGhosh, Player Representation and Scouting for F&F Sports, Two Cows Explain Economics Better Than Any Class This was partially offset by capital gains, the main one being 1.7 billion due to the sale of the 29.9% shareholding in SUEZ. On quick one on numbers, on guidance. [1] She started her career on stage in New York City, in theatres off and on Broadway, credited as Scottie MacGregor . So here, generally, the question, how do you think about the future of the gas networks? Watch th. And so were confident to be able to invest in lots of opportunities that Catherine talked about. A graduate of the Paris cole Centrale (CentraleSuplec), Catherine MacGregor has spent her entire professional career working in the energy sector, including 23 years with Schlumberger, the world's leading supplier of technologies for characterizing, drilling, producing and processing reservoirs for the oil and gas sector. So thank you very much, and bye-bye. Catherine Fiamma MacGregor is an Influencer, https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future, https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. What an insightful stay in India this week starting with a technical conference on #hydrogen #certification at #IndiaEnergyWeek then meetings with 7 industrial players developing hydrogen projects across #India. Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. Now the markets are looking at the remaining energy services. Catherine MacGregor Wikipdia Aged 48 and a graduate of cole Centrale Paris, Catherine MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. But is it bad? Elle y dirige des activits de forage au Congo, en Mer du Nord 3, aux tats-Unis, en Malaisie, au Royaume-Uni et en France 4. MacGregor, an engineer . And we will now take our next question from Ajay Patel with Goldman Sachs. We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. Currently, we have 3 gigawatts under construction for commissioning in 2021, and we are on track to achieve the 2019 target of commissioning 9 gigawatts in three years by the end of this year. Catherine will then come back and share our priorities. Laut Konzernchefin Catherine MacGregor werde man im laufenden Geschftsjahr 2023 einen Gewinn zwischen 3,4 und 4 Mrd. Its the first step. Yes. We have also good fleet in Middle East and also Latin America. On the following slide, Ill share our 2021 expectations for each business line. These projects further cement Masdars position as a leading clean energy powerhouse, helping Azerbaijan to unlock its tremendous clean energy potential. And also, is there any possibility to reverse the decision on the Belgium life extension should the Belgium government change its stance this year? Catherine, the floor is yours. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. In Renewables, we expect growth from asset commissioning in the United States from higher achieved prices for French hydro and from the potential positive effect of the CNR concession extension. We have not seen prices like this in many years. 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? With our strong local presence in key geographies and leading capabilities across the power generation value chain, including in energy management, which is a key for commercializing renewable energy, we are confident in our ability to drive long-term value creation from this renewables growth. currently to 4 GW p.a. Nothing much more structural than that really, James, on supply improvement. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Thank you. You may now disconnect. Current positions of Catherine MacGregor We will now take our next question from Peter Bisztyga with Bank of America. 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. On your two questions, 1 was on the tax rate. Here's a bit more, on climate change and from a few years ago, but still relevant. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. Now the guidance for 2021. We are investing in our strategic priorities for long-term value creation. Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. I think we are now about time, so I would like to thank you for your attention. Biography [ edit] Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. 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. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. And maybe the last point, which is around performance culture, which I think can be improved within ENGIE, and here again, I can assess that the first reaction to this discussion within the company leads me to believe that we can make some inroads on that topic as well. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. Net recurring income group share was in line with guidance but at the bottom end of the range. We have made the decision to stop the work to prepare for this such an extension. 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. Let me now focus on the evolution of net debt and on our leverage ratios. Is it something that you will tell us more about in May? So two questions, please. So maybe I will start with your last question, which is around the decision on nuclear. And then just another one on guidance. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. A very fine, humane gesture that you promised your ENGIE colleagues. Hopefully, thats an easy one, but would be very helpful. *Criao da poltica nacional de incluso das pessoas 50+ no mercado de trabalho* We invested 1.5 billion growth CapEx in 2020, mainly in Brazil, on power transmission lines and for the acquisition of the remaining 10% in TAG. Yes. These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. I would love to hear from you. On the 100 million, quite frankly, there isnt any unusuals that you should assume. 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. So lots of enthusiasm around renewable. And maybe more importantly, where do you see subsidiary in five years and what it could contribute to your P&L considering the potential growth of these assets? The enshittification of apps is real. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! Thats one thing. And then, of course, right after that, you have hydrogen. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. So there will be a capital gain on this. Chef d'Agence Filire Vente Centre Ouest chez GRDF, Thank you Catherine Fiamma MacGregor for your post that combine strategy, progress and well-balanced energy mix (#renewable #gaz #power) to confirm meaning and a consistent vision to our company, not to mention the recognition. We announced last December that EVBox would be listed on the New York Stock Exchange. Obviously, we have made the decision to exit the coal, which is run under Thermal. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Other generators like Uniper and Fortum have been very strong as well. Let me know below If so, do you have a view to what level? We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. Turning to an update on the strategic review of part of our Client Solutions business that was launched in the second half of last year. Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. cookies This was mainly due to impairments, especially related to our nuclear reactors. And so the amount will be much lower than what you have seen in 2020. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. On the other hand, we, obviously, want stability in a power system. Weve proven that over and over again in very, very recent past. on the development of flexible and resilient energy systems. Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. Significant growth is also expected in the use of renewable gases to accelerate the energy transition. And so these are some of the things that complexity and ability to manage activities that are very, very different from each other, I think really get in the way of performance. And given that theyre contracted, to maybe accelerate other areas of the business? Precisamos de 20.000 apoios para que a ideia se transforme em lei. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? Thank you very much, Aarti, and good morning, everyone. Thank you. She occupied a number of roles in various geographies (Republic of Congo, the US, Malaysia, ): from Director of Business Entities (Wireline, Reservoir Characterization, Drilling, ) to Regional Division (Europe and Africa). I guess, whats the kind of your average period of sort of non-productive capital work in progress? Now the other aspect, of course, is that we are obviously and we have not talked too much about it yet, but the hydrogen opportunity for us is very, very material. You can store it. You certainly have a lot of people out here who want you to be very successful. If we look at the long term, weve got an average of 20% of minority as part of group net income with large minority stakes in Latam, for instance. For this, I would like to say a big thank you to Judith, Paulo and Claire for their strong leadership in 2020, as they had the dual challenge of advancing the group simplification agenda whilst, at the same time, ensuring we continue to deliver essential services to our customers. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. In the past Ms. MacGregor held the position of President-Drilling Group at Schlumberger NV and Personnel Director at Oilfield Services Co. Ltd. Ms. MacGregor received an undergraduate degree from cole Centrale Paris. personalising content and ads, providing social media features and to Notre lectricit est dj propre 2020 was really a milestone year for ENGIE in the U.S. with nearly 2 gigawatts of this new capacity commissioned across four states, taking our total installed renewable generation there to over 3 gigawatts. Strategy: we have made progress in the execution of our plan to build a stronger and more unified Group, on the offensive to accelerate the energy transition. So in terms of creating an entity as part of our strategic review of Client Solutions, one of the things that is important to understand about this business is that it has grown within ENGIE as a series of acquisition and local development and so today, dont quite belong into a coherent entity and is not led as an independent or well-defined part of ENGIE. Yes. The peer groups done very well. No, thank you. Catherine MacGregor est elle-mme mre de deux filles 2 . From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. Networks were mainly impacted by warm temperatures and by higher D&A. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. I was very pleased to participate in the 9th Ministerial Meeting of the Southern Gas Corridor Advisory Council, and the 1st Ministerial Meeting of the Green Energy Advisory Council, held in #Azerbaijan last week. Okay. There is a very, very strong will power within the team to do that. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. From 2013 to 2016, she also served as president Europe & Africa at Schlumberger, before being promoted in 2017 to president of the drilling business, while based in London. Its, for sure, a large part of the investment case. So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. Does this mean that Equans is now getting nothing? She has spent her entire professional career working in the energy sector. This button displays the currently selected search type. And then, of course, now this partial sell down that were planning into a SPAC transaction. First of all, I think you are highlighting through your question the fact that we have, at ENGIE, significant tailwinds, tailwinds that some of our peers have enjoyed and we havent. 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. We have a strong position in Brazil, in Peru, in Chile. Enel nearly tripled, Orsted quadrupled. Premium access for businesses and educational institutions. Stay informed and spot emerging risks and opportunities with independent global reporting, expert And that will be something that we will be describing a bit more in details in May. 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. Recharge is part of DN Media Group AS. So thats a positive. This very unusual year translated into a mixed set of numbers. To this end, we expect to invest between 5.5 billion to 6 billion growth CapEx, with over 90% of this in renewables, networks and asset-based client solutions. Holidays ? Elle y dirige des activits de forage au Congo, en Mer du Nord[3], aux tats-Unis, en Malaisie, au Royaume-Uni et en France[4]. And Judith? And we will now take a last question from Louis Boujard with ODDO. Find here the list of all the sessions presented by this speaker in order not to miss any of it. This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. 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? 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. Curious as to what my Linkedin connections think. Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. One was the CapEx. analyse how our Sites are used. 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. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know.