We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. I would like to take this opportunity to thank all ENGIE employees who have worked so hard to deliver critical services for our customers in unprecedented conditions. offers FT membership to read for free. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Operator? Every Friday at a quarter past 10, the fire alarm. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. The biggest, of course, remains Renewables. cookies Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? Networks were mainly impacted by warm temperatures and by higher D&A. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. So no impact there, of course, on G&A reduction and about 800 million of assets. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . What are you looking at? Our environment is changing. Revenue declined on a gross basis by approximately 900 million for the full year. Elle a t leve au Maroc[1]. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. cookies 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. directrice gnrale d'un groupe industriel nergtique; 25 ans de services, Vincent Collen, David Barroux et Julie Chauveau, , Dcret du 31 dcembre 2020 portant promotion et nomination dans l'ordre national de la Lgion d'honneur, https://fr.wikipedia.org/w/index.php?title=Catherine_MacGregor&oldid=201657000, Portail:Biographie/Articles lis/Sciences, Portail:Biographie/Articles lis/Entreprises, licence Creative Commons attribution, partage dans les mmes conditions, comment citer les auteurs et mentionner la licence. We also posted higher financial costs. DN Media Group is the leading news provider in the shipping, seafood, and energy industries, with a number of English- and Norwegian-language news publications across a variety of sectors. We also benefited from higher contributions of GTT thanks to a strong past order intake. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. Sign up for more in-depth articles and insights. 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. - Play an important role in ensuring security of supply for France and Europe Price is going up. She is the only female CEO in France's CAC-40 stock index; French Finance Minister Bruno. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, We see a huge potential for hydrogen, and we are already making significant progress in biomethane. Recharge is part of DN Media Group AS. She has spent her entire professional career working in the energy sector. France's Engie appointed an oil services executive to execute its strategy of refocusing the utility on renewable energy and grids, overlooking the internal candidate behind its new green strategy.. Engie said in a statement it had appointed Franco-American oil services firm TechnipFMC executive Catherine MacGregor as new CEO, effective Jan. 1, 2021. #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. I have one question for Judith and one for Catherine, please. We do believe that its important to keep return in mind whenever we bid, and there is no must-win auction in ENGIE. 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. Alongside renewables, we are also developing projects of up to 3 gigawatts of gas-fired generation. Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. For example, we significantly enhanced our renewables footprint in the U.S. Please go ahead. Find here the list of all the sessions presented by this speaker in order not to miss any of it. Thank you, Sam, for your welcome message and your welcome question. 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. And Im sure thats a question youve been reflecting on as you took up the new role. 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. Have a nice day. 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. From November 1st DN Media Group is responsible for controlling your data on Recharge. So the 150 million I gave is correct. or EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. Les miroirs magiques et moulins vent ne seront jamais une alternative au nuclaire franais, But on defining the structure, does that mean we have a disposal in Q3, Q4? Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. Do you have a vision about taking this proportion of minorities down for the group? And if so, what quantity? 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. 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 Now the guidance for 2021. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. Okay. 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 so we are working really hard on these networks to find alternatives to use preferably renewables, things like biomass for example. This change led to an impairment, which Judith will cover shortly. We will now take our next question from Peter Bisztyga with Bank of America. So lots of enthusiasm around renewable. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. Hydro had a strong increase organically but was down from a growth perspective because of the FX, of course, in the Brazilian real, and wind was an increase for the obvious reasons because we have been investing quite significantly in the past few years. Elle est alors nomme prsidente New Ventures de TechnipFMC. And with that, Im pleased to hand you over to Catherine. Does this mean that Equans is now getting nothing? 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. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. Standard Digital includes access to a wealth of global news, analysis and expert opinion. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. Elle travaille pendant 23 ans chez Schlumberger. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. Problem: 40% of the hours of the month there is minimum wind and zero sun. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. And as in the past, we will be very mindful of timing. So maybe I will start with your last question, which is around the decision on nuclear. click here. And Judith will give you a little bit of the background and more details on the rest. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. https://noviocean.energy/documents/ European utility giant Engie named oil & gas industry veteran Catherine MacGregor as its new CEO with a remit to lead the French groups ambitious renewables and energy transition plans. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. And side comment also on this is that our employees are obviously very excited about renewable as being a growth center of a growth engine for us in ENGIE, so as well as obviously being a key goal of our ESG road map. The key here is really to give that business its own industrial project, its own identity. We had 1.2 billion total impact last year. So these are some of the things that we are excited about when we think about our network assets, and we like it. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. From 2013 to 2016, she served as President Europe & Africa at Schlumberger, before being promoted in 2017 to President of the group's drilling activity, based in London. Welcome to the sector, indeed. 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. Higher D&A was mainly due to accelerated amortization of some distribution assets. 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. on the development of flexible and resilient energy systems. So Ill ask two questions. The second half showed a clear recovery with less stringent confinement measures but also with improved processes and protective equipment for our teams. 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. Its been a period in which the sector was exceptionally strong. Onshore wind can be 1.5 years. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. That will put pressure on Ms MacGregor to make her mark . But really appreciate, thanks again ! But is it bad? 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. And we will now take a last question from Louis Boujard with ODDO. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. 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. 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. 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. You can still enjoy your subscription until the end of your current billing period. In her efforts to "simplify" Engie, MacGregor is moving from 25 business units to 4 globally, and . Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. So on EVBox, were very happy to have announced this transaction. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! January 7, 2021. I will try and stick to two questions, too. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. And I think, namely complexity is one thing. modifier - modifier le code - modifier Wikidata. Notre lectricit est dj propre Together, let's continue to make a difference! In DHC networks, the worldwide market is expected to grow over 5% per year on average across the next nine the next five years. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. Thanks to Faye Kirby and Valencia Anderson for setting up the display and sharing books written by black authors. 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]. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. The first one is on strategy. But in short, we have big ambition, but we will be disciplined. We are assessing the situation, which mainly affects renewables and supply activities. Thats a good clarification. 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. We think its important to have a system play on renewables. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. It honours and commits me. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. 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. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. You certainly have a lot of people out here who want you to be very successful. 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. She was in charge of the entitys IPO. Enel nearly tripled, Orsted quadrupled. Catherine, the floor is yours. We use cookies in a variety of ways to improve your experience, such as keeping NHST websites reliable and secure, personalising content and ads and to analyse how our sites are being used. Stepping back. Cheers! 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. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. Hopefully you can also take this into account? On your two questions, 1 was on the tax rate. French Networks had limited COVID impact also mainly on distributed gas volumes. We support credit card, debit card and PayPal payments. Comptences clefs . Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. And second, its really focused and making sure that everybody pulls in the same direction. Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. university 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. To Engie in my case. How quickly can that new CapEx sort of translate into earnings? These projects further cement Masdars position as a leading clean energy powerhouse, helping Azerbaijan to unlock its tremendous clean energy potential. In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. So our main working scenario right now is that it wont happen. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. 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. Non Madame Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. If we basically look at simplification, we could cut it in two parts, what I would call transactional simplification, disposals buyout of minorities on maybe organizational simplification. So this is becoming real. 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? Indeed, we had an increase a temporary increase in 2020 to 32.5%. Judith? In other geographies, we benefited from commissioning new capacity in the United States and from higher wind production. This has been a concern for the market. 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. French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. Sure. This included 4 billion of growth CapEx, almost exclusively in our areas of strategic growth with approximately 40% in renewables, 40% in networks, and 15% in asset-based Client Solutions. Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. We will now take the next question from Meike Becker with Bernstein. But where should we be hoping that Supply COI gets back to either this year or perhaps over the medium term? And sorry, just a follow-up on the CapEx. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. And hopefully, we can share more of that in May when we come back to you. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. Head of Core Laboratories US - Alpharetta Site Manager, Thanks to Solvay Alpharetta employees Michael O'Keeffe and Edna Carbajal for reaching out to students in Dawson county GA for their junior high school career fair and mock interview days. Strong management actions allowed us to variablize and reduce total OpEx by approximately 300 million. Obviously, we have made the decision to exit the coal, which is run under Thermal. 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. Katherine MacGregor (born Dorlee Deane McGregor; January 12, 1925 - November 13, 2018) was an American actress, best known for her role as Harriet Oleson in Little House on the Prairie. 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. Thank you Renata Spada for being yourself and authentic. 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. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Let me now move to a detailed view per business line. personalising content and ads, providing social media features and to 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. Pour les articles homonymes, voir MacGregor. Vocs conseguem nos apoiar? Okay. I have a couple of questions, 1 for Catherine and 1 for Judith. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. Ladies and gentlemen, this concludes this conference call. I think, as you pointed out, theres been a little bit of a race to gigawatts. Officer of ENGIE SA since . I am very pleased that Jrme Stubler, who has more than 30 years' experience in the construction industry, joined us recently and will be leading this important project. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. With our experience, knowledge and reach we can optimally meet your businesses media needs and requirements in three cohesive ways: Network with the right people, Insight into the industry, and Talent to the right place. Organically, these evolutions were slightly better. It honors and commits me. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. Moving to Networks, which were resilient despite the pandemic. Est 53 centrales nuclaires qui vous donnent l'lectricit la moins chre au monde, We want to develop and further our differentiation. This is particularly noteworthy in the context of the unprecedented pandemic. 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. Regarding the organizational simplification, you mentioned complexity of the group. And so every year, we will allocate capital to that, and thats 1.3 billion a year. And so were confident to be able to invest in lots of opportunities that Catherine talked about. Weve proven that over and over again in very, very recent past. It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. 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. #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE. 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. Its were rounding numbers here, as you can see, because like I said, this is our target. Yes, Judith, just to follow up on the Nuclear, can I just ask setting aside the provisions and the cash payments against those which we know about, can I just ask, do you anticipate any positive free cash flow from the nuclear fleet now in the rest of its life, I mean, if you just look at operating cash flow and essentially operating CapEx that youve got to put in? Simply log into Settings & Account and select "Cancel" on the right-hand side. 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. We have ambitious goals to continue to simplify ENGIE at pace to play a key role in accelerating the energy transition and to focus on the long-term profitable growth of the group. Thank you, Catherine, and good morning, everybody. 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. Laut Konzernchefin Catherine MacGregor werde man im laufenden Geschftsjahr 2023 einen Gewinn zwischen 3,4 und 4 Mrd. EBITDA and COI were both down significantly from last year mainly due to the impact of the pandemic. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout 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. 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. But that brings me to my question actually. However, the gross COI evolution was negative 125 million mainly due to foreign exchange.

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