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If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. 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. Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. The peer groups done very well. 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. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. The first one regarding the network convergence. organisation 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. Please go ahead. 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. How old is Ms MacGregor? On the 100 million, quite frankly, there isnt any unusuals that you should assume. cookies And the second one, if I may ask, around Client Solutions. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! Thats a good clarification. Yes. Engie's new CEO sets out with the goal of simplifying the energy group Overall, these positive factors are expected to more than offset year-on-year negative evolutions. Organically, these evolutions were slightly better. In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. . Catherine MacGregor | 2021 Most Powerful Women International | Fortune Judith, you want to answer the second question? Simply log into Settings & Account and select "Cancel" on the right-hand side. Simply log into Settings & Account and select "Cancel" on the right-hand side. Precisamos de 20.000 apoios para que a ideia se transforme em lei. To read more about DN Media Group, It mainly affects our renewables and supply activities. 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. - Accompany our customers in their decarbonization strategies to face the climate emergency The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? 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. Engie - Franzsischer Energieversorger berzeugt uro am Sonntag" mit And then, of course, right after that, you have hydrogen. Please disable your ad-blocker and refresh. And Im going to pass it on to Judith now for the COI details on Renewables. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. Premium access for businesses and educational institutions. We completed the SUEZ transaction in October and launched further strategic reviews. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. 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]. We have in the U.S. the largest development pipeline. One second, it will be over soon. Following the launch of the new strategic orientation in July, ENGIE completed the disposal of its 29.9% shareholding in SUEZ in October. cookies Euro erzielen. Employee consultation on the proposed organization design started this month as planned, and we expect it to conclude by the end of the second quarter. 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. And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. 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. 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. Congratulations Engie. Now the 2021 guidance. We invested 7.7 billion of CapEx in total. For cost savings, you can change your plan at any time online in the Settings & Account section. Obviously, we have made the decision to exit the coal, which is run under Thermal. 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. When I think of hydrogen for ENGIE, I think all of our activities, all of our mtier benefit. Catherine MacGregor will join Engie as CEO. Engie has been riven in the past by fights between chairman and CEO and is a company where the board plays a big role in shaping strategy. We also continued to benefit from the cost actions launched in the second quarter. Even if you ten-double the installations of these sources, the 40% remains. We support credit card, debit card and PayPal payments. 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Thank you. 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. This higher tax rate included notably the adjustment of carrying value of some deferred tax assets and the one-off effect of the tax rate change in the UK. university We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. 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). Its a geography refocus. Some others, there is still a good portion of assumption that there might be a stranded asset. And maybe Ill just say a few things, and Ill pass on to Judith, just to say that the Client Solutions project is a big project. And so our thermal fleet has a very, very important role to play there. Welcome again to Catherine. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. 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. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line, Glad to see all the progress Engie is doing in becoming a renewable leader. Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. 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. 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. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. Ow, nobetter ! This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. We have a strong position in Brazil, in Peru, in Chile. 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. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. The reversal of a positive internal one-off from the fourth quarter of 2019 offset in supply as well as the first effect of the RAB remuneration rate decreases also contributed to this lower COI in France. The enshittification of apps is real. 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. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. And does is your vision about full ownership versus minorities guiding your capital allocation going forward? Catherine MacGregor appointed new Engie CEO | Financial Times But that brings me to my question actually. Catherine MacGregor is currently Chief Executive Officer and Director at Engie - View - Engie org chart Create your alert to follow the career of Catherine MacGregor. Yes. So I think this is a key point Id be interested in. All options considered for Engie's services business sale-CEO Holidays ? 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? The Board of Directors announces the appointment of Catherine MacGregor Both include the construction of new substations and upgrades to existing substations and are expected to be commissioned in the second half of this year. Thats one thing. *Criao da poltica nacional de incluso das pessoas 50+ no mercado de trabalho* Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. For the first part of the transactions, you mentioned the first buyout of or rather the buyout of a part of your minorities in Latin America. This was mainly due to impairments, especially related to our nuclear reactors. Judith? Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. Catherine MacGregor est elle-mme mre de deux filles[2]. In France, we continued to invest into the gas smart meters rollout. I would love to hear from you. We have a very nice digital platform to help us manage our assets better. Tout au long de cette priode, les quipes d'Elengy, Storengy - ENGIE, GRTgaz, GRDF Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de gaz a baiss de 6,2% en France en . No, thank you. And so we are working really hard on these networks to find alternatives to use preferably renewables, things like biomass for example. And Judith, you want to comment, please, on the impairment? Name: Katherine MacGregor Birth Year: 1925 Birth date: January 12, 1925 Birth State: California Birth City: Glendale Birth Country: United States Gender: Female Best Known For: Katherine. In Nuclear, we expect contribution to increase as volumes should be higher, thanks to better availability. Elle est alors nomme prsidente New Ventures de TechnipFMC. In addition, the extension of fair value accounting to a European gas contract and its related assets also led to a net impairment of 500 million. 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. We expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. Were, in fact, very positive and excited about the opportunity of these businesses, very, very different from other more traditional mtier that we have in ENGIE, and the idea is really to form a very coherent entity, which Jrme Stubler is very busy doing right now. 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. 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. 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. We are investing in our strategic priorities for long-term value creation. Catherine MacGregor - Chief . 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. And as in the past, we will be very mindful of timing. Biography. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. 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. 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. So here, generally, the question, how do you think about the future of the gas networks? Catherine MacGregor Net Worth (2022) | wallmine Do you have a vision about taking this proportion of minorities down for the group? 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. Thank you. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. And first question is for Catherine MacGregor. So hopefully, this helps. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. Yes. We will now take our next question from Emmanuel Turpin with Societe Generale. So for my question, the first is on the asset rotation. Next, a few words on the bridge from EBITDA to net recurring income group share. analyse how our Sites are used. 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. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. The final area of 2020 performance I would like to highlight is the groups continued progress in growing our renewable portfolio, which has grown significantly by 32% since the end of 2018. We will now take our next question from Peter Bisztyga with Bank of America. Before I share my view on 2021, here are our 2020 financial highlights. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. And my second question will be more accounting related regarding EVBox. MacGregor said: I would like to thank the board of directors for the confidence it shows in me. https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. Recharge is part of DN Media Group. There is a very, very strong will power within the team to do that. Its, for sure, a large part of the investment case. Pour viter se gchis financier avec l'argent des franais Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. Catherine MacGregor | 2020 Most Powerful Women International MacGregor joins Engie as it embarks on a major push into renewables and clean energy. And so were keeping 40%. 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. So youve been talking about investment discipline. Engie names Catherine MacGregor as new CEO - Offshore Energy We have a lot of experience over the years developed through our generation and thermal activity. Aarti Singhal - Director of Investor Relations. 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. We think, in general, gas is going to be important in this energy transition. 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. 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. And weve announced that there might be a second step, but we will obviously cross that bridge when it comes to it. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. Its going to take us some time. A warm welcome as well to you, Catherine MacGregor. 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 obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. If you have an ad-blocker enabled you may be blocked from proceeding. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. And so from a financial impact standpoint, unlikely to be a 2021 story. Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. Net income group share stood at negative 1.5 billion. Good luck with the new role, Catherine. 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. From November 1st DN Media Group is responsible for controlling your data on Recharge. What is the identity of the Thermal business? 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. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ET, Aarti Singhal Director of Investor Relations, Catherine MacGregor Chief Executive Officer, Judith Hartmann Chief Financial Officer. 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. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. 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. COVID weighed particularly heavily on Client Solutions and on Supply. We do believe that its important to keep return in mind whenever we bid, and there is no must-win auction in ENGIE. Catherine MacGREGOR - Les Rencontres conomiques Let me know below Enel nearly tripled, Orsted quadrupled. ENGIE thanks you for your participation. 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. commentary and analysis you can trust. Before that she had a 23-year career with oilfield services giant Schlumberger, ending as president of the drilling business. I think, as you pointed out, theres been a little bit of a race to gigawatts. is its Ocean Winds joint venture with EDPR. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. 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. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. And then the second question is more for Judith. Les miroirs magiques et moulins vent ne seront jamais une alternative au nuclaire franais, And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Therefore our industry is [], ENGIE steps up its energy transition, targets renewables, MacGregor to supply RoRo equipment for K Lines LNG-powered newbuilds, Equinor and Engie press ahead with H2BE hydrogen project in Belgium, Engie names Catherine MacGregor as new CEO, MacGregor to supply all-electric RoRo equipment to H-Lines PCTCs, MacGregor to equip 4 more Hegh Autoliners multi-fuel PCTCs, In focus: Investments in oil, offshore wind hit a snag. Est 53 centrales nuclaires qui vous donnent l'lectricit la moins chre au monde, 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. This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. I wish to thank Paulo Almirante, Judith Hartmann and Claire Waysand who will continue to serve as the interim management team until January 1st., I would like to thank the Board of Directors for the confidence it shows in me. - Contribute to measures to support purchasing power She has spent her entire professional career working in the energy sector. Catherine will then come back and share our priorities. Cheers! Im Aarti Singhal, Director of Investor Relations at ENGIE, and welcome to our 2020 annual results conference call. Biography [ edit] Yes. Good morning, everyone. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. Catherine Macgregor, Engie SA: Profile and Biography ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. Is it something that you will tell us more about in May? https://waves-energy.co/maps/. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. 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. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. A quick word on the agenda for this morning. 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. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. The first is on the Supply business. It honors and commits me. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. So yes. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. Indeed, we had an increase a temporary increase in 2020 to 32.5%. In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. That will put pressure on Ms MacGregor to make her mark . The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. Catherine, the floor is yours. Standard Digital includes access to a wealth of global news, analysis and expert opinion. There are 25 older and 1 younger executives at ENGIE SA. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. Or is it your budget of the COI for these businesses in 2021? Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. Elle travaille pendant 23 ans chez Schlumberger. Lemjed Bouzekri Thuli MOLOTO Bhupendra Singh Francisca Iturrieta Amadori Berivan Szgn, So pleased that people liked my post on trim tabs. On the following slide, Ill share our 2021 expectations for each business line. So maybe I will start with your last question, which is around the decision on nuclear. Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! So no specific things to be taken into account. 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. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Compare Standard and Premium Digital here. So on EVBox, were very happy to have announced this transaction. 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. It is important to say that our renewables growth ambition is not about entering a gigawatt race. In terms of geography, we have a strong hold in Europe. 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. A key part of that strategy is its Ocean Winds joint venture with EDPR, which has set out its stall as a global leader in offshore wind. Catherine MacGregor: The winds of change - Leaders League 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). I guess, whats the kind of your average period of sort of non-productive capital work in progress? Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. And Judith? So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. These projects further cement Masdars position as a leading clean energy powerhouse, helping Azerbaijan to unlock its tremendous clean energy potential.