, Dear Catherine, Let me know below #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE. Judith, you want to answer the second question? Could you clarify how much COVID impact youve included in 2021 relative to the 1.2 billion hit in 2020? I look forward to continuing to work closely with our brothers in Azerbaijan, and our partners across Europe and around the world, to deliver on our shared clean energy ambitions. 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. Live from New York and. Even if you ten-double the installations of these sources, the 40% remains. And then the second one, its for Catherine. Thank you very much, James, for your question. Have a nice day. commentary and analysis you can trust. When expanded it provides a list of search options that will switch the search inputs to match the current selection. And we will now take our next question from Vincent Ayral with JPMorgan. 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. In addition to EVBox, we expect to execute disposals of around 2 billion, aligned with the group simplification. Yes. 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. We also suffer from the same crisis and have also contributed to this, especially in the Corona years. personalising content and ads, providing social media features and to Two questions from me. 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. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. We support credit card, debit card and PayPal payments. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. The peer groups done very well. This is particularly noteworthy in the context of the unprecedented pandemic. I will now hand you back to Catherine for our 2021 priorities. You can update your choices at any time in your settings. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. 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]. Select Accept to consent or Reject to decline non-essential cookies for this use. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. In Nuclear, following the announcements of the Belgian government in Q4 2020, it has been decided to stop all preparation works that would allow a 20-year extension of two units beyond 2025, as it seems unlikely that such an extension can take place given the technical and the regulatory constraints. The current total coupon of 100 million per year has been reduced by 28% since 2017. We also benefited from higher contributions of GTT thanks to a strong past order intake. Weve proven that over and over again in very, very recent past. This button displays the currently selected search type. We think, in general, gas is going to be important in this energy transition. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. And then your other question was related to the organization. So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. 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. Pour les articles homonymes, voir MacGregor. In Thermal, we expect a COI decrease due to the normalization of a strong 2020 performance in Europe, which was supported by high spark spreads and ancillary contributions. 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 . During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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. Catherine MacGregor - Forbes 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.. An example of the latter is the continued rollout of smart meters, where we installed an additional two million smart meters in France last year. And Networks, given that we do, we continue to invest here in France into the RAB, you will see a relative quick turnaround into contribution. We will now take our next question from Sam Arie with Union Bank of Switzerland. Do you have a vision about taking this proportion of minorities down for the group? At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. We will now take the next question from Meike Becker with Bernstein. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Lets now move to our Supply, Nuclear and Other 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. Euro erzielen. Obviously, we have made the decision to exit the coal, which is run under Thermal. And also, is there any possibility to reverse the decision on the Belgium life extension should the Belgium government change its stance this year? These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. So our main working scenario right now is that it wont happen. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. And so to in that respect, I think your comment might be valid. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. ENGIE SA (ENGIY) CEO Catherine MacGregor on Full Year - SeekingAlpha https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ 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. So 25% of your business is in Thermal, and its an area that youre not particularly resting hugely behind if you look at the growth CapEx numbers. But time will tell. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. 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. It is important to say that our renewables growth ambition is not about entering a gigawatt race. You mentioned diversity of vast diversity of business line, et cetera. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. And I think, namely complexity is one thing. Thank you, Sam, for your welcome message and your welcome question. And yes, let me start by saying also welcome and wishing you success in the new role. 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Catherine Fiamma MacGregor on LinkedIn: ENGIE 9M 2022 Financial 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. Son profil de spcialiste, sa connaissance des enjeux oprationnels et des mtiers de l'nergie, son exprience internationale sont autant d'atouts pour le groupe However, our results were ahead of our expectations on both metrics, and this was driven by the fact that the second half confinements were lighter in our main markets and that we adapted our processes, contributing to improved activity levels. But ENGIE shares have gone, lets say, sort of sideways and even down a bit in that time. Next, a few words on the bridge from EBITDA to net recurring income group share. #beyou #beunique #beunited ENGIE Africa We expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. 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. Welcome again to Catherine. 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! 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]. Keep abreast of significant corporate, financial and political developments around the world. We invested 7.7 billion of CapEx in total. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. I mentioned earlier two things actually. Engie board set to appoint Catherine MacGregor as new CEO. This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. Here's a bit more, on climate change and from a few years ago, but still relevant. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. Problem: 40% of the hours of the month there is minimum wind and zero sun. We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. So the 150 million I gave is correct. This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. Catherine MacGregor - Biography Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. I have one question for Judith and one for Catherine, please. Yes, its hard to give any precise guidelines on that because, of course, it depends on the M&A and greenfield mix, and it depends on the type of projects that youre after. A very fine, humane gesture that you promised your ENGIE colleagues. Biography. Good morning, everyone. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. But when you think about where that green hydrogen will be produced and where it will be consumed, the fact that we have infrastructure to transport this hydrogen, potentially to store this hydrogen will play to our strength. And then, of course, right after that, you have hydrogen. [Foreign Language]. 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? Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. Often, its actually a very small proportion of coal that is being used, but it is indeed the case that it is part of our feedstock. I think we are now about time, so I would like to thank you for your attention. Catherine MacGregor | 2020 Most Powerful Women International The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. and other data for a number of reasons, such as keeping FT Sites reliable and secure, The enshittification of apps is real. I have proper control over all inventory department with the skill of my Minimum and Maximum stock levels, Gerente Industrial | Gesto de Operaes e Servios | Supply Chain | Engenheiro de Produo | leo e Gs | Suporte Tcnico | Produo | Gesto da Qualidade, Pessoal, eu criei esta Proposta de Ideia Legislativa no Senado Federal que se transformada em lei criar as Poltica Nacional de Incluso das Pessoas 50+. Together, let's continue to make a difference! De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? 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.. currently to 4 GW p.a. Her main mission was to prepare for the spin-off and IPO of Technip Energies, for which she put the energy transition at the heart of the strategy. personalising content and ads, providing social media features and to university As CEO of ENGIE, I am particularly proud of what we have achieved with our teams. Ladies and gentlemen, this concludes this conference call. A quick word on the agenda for this morning. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. Aarti Singhal - Director of Investor Relations. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. Energy Solutions: we won major contracts in district heating and cooling networks but also in #greenmobility, notably with 5600 charging points for electric vehicles in Belgium 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. So hopefully, this helps. I was wondering whether you could just remind us where youre still using coal in district heating and what the options are there, whether youre planning on investing and converting those units to cleaner fuels? Turning to our major focus areas starting with Renewables. One was the CapEx. 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. This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. Engie board set to appoint Catherine MacGregor as new CEO Elle est alors nomme prsidente New Ventures de TechnipFMC. And as in the past, we will be very mindful of timing. Thank you very much for your attention, and I would like to turn now the line back to the operator for the Q&A session. And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only). Pay my electricity bill of next year. 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? Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. Ms MacGregor, an engineer by training who was born and raised in Morocco, will start in the CEO job on 1 January 2021, taking over a company that has been roiled over the past few years by a. Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. So thats one aspect of it. So maybe I will start with your last question, which is around the decision on nuclear. 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. Together, these drivers helped to more than offset negative foreign exchange in Brazil, Mexico and Argentina. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. Then potentially collaborate/partner with us for less than EUR 10 m in costs, together solving the crucially important 40% of the hours of the month. Although we were in crisis management most of 2020, we did not lose focus on our long-term objectives and continued to invest for the future. Current positions of Catherine MacGregor Or is it your budget of the COI for these businesses in 2021? Catherine was President of Technip Energies at TechnipFMC, and President of Drilling at Schlumberger. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. Lastly, COI for other activities decreased as 2019 benefited from a positive one-off related to partial sale of a gas supply contract, in 2020 was impacted by COVID mainly due to credit losses for GEM. Onshore wind can be 1.5 years. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. And so were keeping 40%. 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 if so, what quantity? Therefore, we do continue that we do think that gas will continue to play a very key role. Altogether, these units can contribute to a yearly production of up to 3.9 terawatt hours, equating to the annual gas consumption for hitting approximately one million new build homes in France. What are you looking at? In terms of geography, we have a strong hold in Europe. 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. 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. This very unusual year translated into a mixed set of numbers. Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. We expect financial performance to improve significantly from 2020 driven by a combination of strong recovery from COVID impacts, growth in renewables and international networks, improved nuclear availability and higher achieved price, and reversal of warm weather effects. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. Its two and probably a little bit more early. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. organisation 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.