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? We are assessing the situation, which mainly affects renewables and supply activities. Aged 48 and an engineering graduate of cole Centrale Paris, Catherine MacGregor started her career at Schlumberger in 1995, where she spent 23 years in positions of international responsibility, notably as group HR director. Standard Digital includes access to a wealth of global news, analysis and expert opinion. She was in charge of the entitys IPO. COI decreased mainly driven by a 600 million impact from the pandemic. And then the second question is more for Judith. On an organic basis, the business line saw 1% growth, which was a strong result considering that there were over 100 million of positive operational one-offs in 2019 from LDs on newly commissioned power plants in Brazil and Chile. Thank you #HariPrasad #PulakPrakash #PallavGogoi #AmitGhosh, Player Representation and Scouting for F&F Sports, Two Cows Explain Economics Better Than Any Class Net recurring income group share was in line with guidance but at the bottom end of the range. And given that theyre contracted, to maybe accelerate other areas of the business? #buckminsterfuller #trimtab #climatechange. The biggest, of course, remains Renewables. Learn more in our Cookie Policy. Catherine MacGregor a t dcrite positivement par d'anciens collaborateurs: des articles de presses rapportent des propos qui la dsignent comme une personne trs simple aux loisirs sans surprise (cinma ou scrabble)[1], directe, mthodique, tenace, trs oprationnelle[4], humble et courageuse[3], efficace, mais elle sait couter (Thierry Pilenko)[2]. Carbon neutrality is at the heart of ENGIEs purpose and central to our strategic direction. You may change or cancel your subscription or trial at any time online. 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. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. Her vision on ENGIEs transformation and development, her industrial and international track record as well as her leadership and managerial skills will fully contribute to the achievement of the strategic orientations announced at the end of July, the companys statement reads. One second, it will be over soon. So lots of enthusiasm around renewable. Weve seen peers in renewables showing a bit of a lack thereof of investment discipline, among other thing, the auction in UK offshore. On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. I will now hand you back to Catherine for our 2021 priorities. All options considered for Engie's services business sale-CEO , Dear Catherine, And so were keeping 40%. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. One is, of course, to participate in the future growth that we are projecting for this company; and second, of course, the close link into this space, which is a very important space for us. Officer of ENGIE SA since . Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. Yes. 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. cookies It is important to say that our renewables growth ambition is not about entering a gigawatt race. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. 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. Theyre going into similar areas with Networks is an important aspect. Please. But in short, we have big ambition, but we will be disciplined. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. 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. 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? Check if your Welcome again to Catherine. Katherine MacGregor - Wikipedia If so, do you have a view to what level? But we really want to focus on a return-based growth strategy. These factors, together with a track record in decentralized infrastructure and a fast-growing position in renewable gases, means we are very well placed indeed. So yes, Thermal is a good fleet for us, good asset. So thats one aspect of it. Engie appoints oil services executive to execute new renewables strategy We use Now that makes me and that makes the team, obviously, extremely motivated and optimistic that we are going to get the benefit from these tailwinds because, as a team, we are extremely focused in making sure that we do outperform, and outperform our peers, outperform the market. Our group remains committed to Belgium and to contributing to the countrys security of supply. This decision, effective as from January 1st 2021, is the result of a selection process, led by Jean-Pierre Clamadieu, Franoise Malrieu and members of the Appointments, Compensation and Governance Committee, following the highest standards of governance. She has spent her entire professional career working in the energy sector. So these are some of the things that we are excited about when we think about our network assets, and we like it. 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. She has spent her entire career in the energy sector. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. And if so, what quantity? and other data for a number of reasons, such as keeping FT Sites reliable and secure, Strong management actions allowed us to variablize and reduce total OpEx by approximately 300 million. We expect EBITDA to be in the 9.9 billion to 10.3 billion range, COI to be in the 5.2 billion to 5.6 billion range, and net recurring income group share to be in the 2.3 billion to 2.5 billion range. 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. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. But is it bad? So youve been talking about investment discipline. So on EVBox, were very happy to have announced this transaction. For example, we signed several corporate PPAs with Amazon for a 650-megawatt global portfolio of wind and solar projects across the U.S., Italy and France. CEO Affiliation Engie Country France 2020 Rank 13 In her first year as CEO of the giant French power company, MacGregor, an oil and gas industry veteran, focused on simplifying the $63.5. Our portfolio of wind and solar assets has an average age of five years with an average residual contract duration of 15 years, which offers us with good visibility of earnings. My first reaction with the bonus: Wow great ! Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. And then, of course, you also remember that, in 2020, we have decided to more consolidation where it makes strategic and financial sense, as it was mentioned earlier. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. This change led to an impairment, which Judith will cover shortly. I mentioned earlier two things actually. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. Simply log into Settings & Account and select "Cancel" on the right-hand side. And Im going to pass it on to Judith now for the COI details on Renewables. 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. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. Judith, you want to answer the second question? Depending on opportunities, it could be this asset or another one. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. 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. #solvaylife #futureemployees #career #mockinterviews, Bringing some sun and fun to the Solvay Alpharetta site in February, employees and friends enjoyed an Hawaiian themed luau complete with ukulele music from Jason Chung and Ryan Carey. Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. And then the last thing I would want to mention, too, is on the positive side of this decision, is this will help us reallocate some earmarked, lets say, CapEx into, again, our growth opportunities in Renewables and in Networks. This really has two reasons. And I suppose when we see you planning a CMD in May, I think lot of us are hoping that youll be able to do something similar at the May event. 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. In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. We have this 28 billion RAB, or regulated asset base, in France, which gives us this good visibility and predictability, which is a very nice complement to the renewable. And second, its really focused and making sure that everybody pulls in the same direction. But that brings me to my question actually. Access to customer sites was much reduced during the strict lockdowns of the second quarter 2020, and we were not able to perform various services. So its a huge project. 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. Other generators like Uniper and Fortum have been very strong as well. You certainly have a lot of people out here who want you to be very successful. Catherine MacGregor Compare Standard and Premium Digital here. 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. currently to 4 GW p.a. Very yes, good question. One was the CapEx. So no specific things to be taken into account. Yes. Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. So to summarize, ENGIE made progress at pace in 2020. Simply log into Settings & Account and select "Cancel" on the right-hand side. Select Accept to consent or Reject to decline non-essential cookies for this use. Congratulations Engie. On the following slide, Ill share our 2021 expectations for each business line. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. The ENGIE Board set out strategic orientations for the group last year in July 2020, and my new executive team and I have three clear priorities: firstly, simplifying the group at pace; secondly, investing further, investing in renewables, networks and asset-based client solutions, as these are areas of competitive strength for ENGIE; and finally, strengthening our groups commitment to the energy transition. 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? And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. And so the amount will be much lower than what you have seen in 2020. So that is roughly what you have to have in mind. What you would be looking for? Significant growth is also expected in the use of renewable gases to accelerate the energy transition. COVID weighed particularly heavily on Client Solutions and on Supply. The first one is, following the impairment on Belgium Nuclear, could you indicate whether there will be any impact on depreciation and amortization going forward? Thanks, everyone, for your welcome message and very much look forward Judith and I very much look forward to meeting you, extending with you in the future and again, very, very excited about turning those tailwinds that ENGIE has had into reality. And so were confident to be able to invest in lots of opportunities that Catherine talked about. Within this guidance, we have included our current estimate of the potential impact. 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. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." (Tech. On quick one on numbers, on guidance. Engie - Franzsischer Energieversorger berzeugt uro am Sonntag" mit PDF CATHERINE MACGREGOR Directrice Gnrale - Engie 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. Its a geography refocus. This decrease in total COI was mainly driven by a negative 1.2 billion COVID impact, a negative 300 million pressure from foreign exchange mainly due to the depreciation of the Brazilian real and a negative 160 million impact from French temperatures. H2, I was happy to see so many enjoying each others company. Renewable #Gas: We continue to make progress, with 459 #biomethane production units connected to our networks in France, and with 5 of our #hydrogen projects in Europe selected to benefit from public aid from the European Commission. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. For example, last year, 91 additional biomethane production units were connected to the French gas grids, and over 85% of these were connected to GRDF. I have one question for Judith and one for Catherine, please. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. 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? Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. Areas of expertise ; And thats really the key part of what we do. Curious as to what my Linkedin connections think. The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. Operationally in 2020, the group continuously evolved processes to tackle COVID, and we maintained high health and safety standards for both occupational and process safety. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. I think these are really, really good questions. 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? Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. We also suffer from the same crisis and have also contributed to this, especially in the Corona years. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. Okay. And so we consider that these are going to be very important in the near term at least in order to maintain a power system that is both robust and affordable, which was some of the features that I described in my talk, as extremely, extremely important for this energy transition. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. Keep abreast of significant corporate, financial and political developments around the world. Because there was a time when that business was making around 600 million of COI. 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. To Engie in my case. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. This was notably due to the discounting of liabilities related to hydro concessions in Brazil that are indexed to inflation and which increased significantly in 2020. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. Is it something that you will tell us more about in May? By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. The Board has reaffirmed the groups dividend policy and proposed for 2020 a payout ratio of 75%, which is at the top end of the range. So without going into any specific, youre right to say that it does contribute to the simplification efforts. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Notre lectricit est dj propre Engie boosts asset sales as it targets 'doing less stuff' We have made the decision to stop the work to prepare for this such an extension. Please go ahead. 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. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. On May 18, 2021, ENGIE's Chief Executive Officer Catherine MacGregor unveiled the Group's strategic roadmap, to reaffirm ENGIE as a leader in 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. We will then consider next steps and review future ownership options for the new entity in the second half, maximizing value and acting in the interest of all our stakeholders. In that entity that we are forming, which is the object of the consultation weve talked about, there will be 34,000 roughly 74,000, sorry, 74,000 people. hosting the engineering activities. Aprs avoir t auditionne par les cabinets de recrutement Korn Ferry et NB Lemercier & Associs, elle est nomme directrice gnrale d'Engie le 2 octobre 2020, avec entre en fonctions le 1er janvier 2021. Solvay Alpharetta celebrates Black History Month. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. And so we are working really hard on these networks to find alternatives to use preferably renewables, things like biomass for example. [Operator Instructions] We will take our first question from James Brand with Deutsche Bank. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. 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. Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? 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 want to take advantage also to clarify on a question that I was asked earlier on the nuclear impairments and the impact on D&A. 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. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? 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. So yes. We announced last December that EVBox would be listed on the New York Stock Exchange. We invested 7.7 billion of CapEx in total. So we really have some really nice differentiation that we want to use in order, for sure, to be competitive but without sacrificing the return. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. Catherine MacGregor | 2021 Most Powerful Women International | Fortune Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. We remain committed to a strong investment-grade credit rating and continue to target a ratio of below or equal to four times economic net debt to EBITDA over the long term. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. We have strict criteria, and we will stick to them. In terms of geography, we have a strong hold in Europe. 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. Check if your We intend to retain a higher ownership of our renewables project where it is strategically and economically rational as we indicated in our strategic orientation. This button displays the currently selected search type. Thank you very much, James, for your question. Let me start with your second question, and then I will hand over to Judith, who will go through the details of the impairment impact, if you dont mind, Rob. 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. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. Let me give you the 2020 COI highlights. We are a media company, specifically facilitating the maritime and offshore industry. So again, when you think about the business and the need to have a resilient power system, gas has actually a very critical role to play. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. So if we have opportunities, which, from an energy transition makes sense, because, for example, they would replace coal or even worst, fuel assets and bring a solution of flexibility to the system is something that we might consider. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ So two questions, please. All these strategic advances, which place our Group as a leader in the low-carbon transition, are the result of the exceptional commitment of all our teams! Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. on the development of flexible and resilient energy systems. And what is your philosophy there?