Maybe some thoughts. To read more about DN Media Group, janvier 2021 en qualit de Directrice Gnrale. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. This has been a concern for the market. Engie board set to appoint Catherine MacGregor as new CEO. 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. We are a media company, specifically facilitating the maritime and offshore industry. Many thoughtful leaders throw up their arms when it comes to taking action on climate change, thinking, understandably, that their company is just a drop in the bucket. 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. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. And to this end, Im very pleased to announce our next event on the 18th of May, where Judith and I will cover both our Q1 results and provide you with a medium-term strategic plan and guidance. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. And so our thermal fleet has a very, very important role to play there. Theyre going into similar areas with Networks is an important aspect. We have a strong position in Brazil, in Peru, in Chile. 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. And as in the past, we will be very mindful of timing. 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? 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. Catherine will then come back and share our priorities. So these are some of the things that we are excited about when we think about our network assets, and we like it. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. So naturally, were landing more just below a 100 million figure for 2021. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. 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. And so we are working really hard on these networks to find alternatives to use preferably renewables, things like biomass for example. Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. 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. Its not like a 2020 event. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. For this, I would like to say a big thank you to Judith, Paulo and Claire for their strong leadership in 2020, as they had the dual challenge of advancing the group simplification agenda whilst, at the same time, ensuring we continue to deliver essential services to our customers. Indeed, you can expect positive cash flow operation from our nuclear activities. 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. Catherine MacGregor a rejoint le groupe ENGIE le 1. er. But in short, we have big ambition, but we will be disciplined. 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. Thank you, Sam, for your welcome message and your welcome question. Premium access for businesses and educational institutions. And so were confident to be able to invest in lots of opportunities that Catherine talked about. So thats one aspect of it. In terms of geography, we have a strong hold in Europe. 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. These positive effects were partly offset by lower volumes mainly due to a decrease in availability of our Belgian assets caused by the last planned LTO maintenance works on Doel 1, Doel 2 and Tihange 1. We have in the U.S. the largest development pipeline. My first reaction with the bonus: Wow great ! As we are reminded by extreme events, such as the recent ones in Texas, it is critically important that decarbonization of the energy mix is both reliable and affordable. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. So Paulo, Ccile, Edouard and Sbastien will be obviously leading this organization effort, which I very, very much look forward to, indeed, seeing simplified over the coming months. We have also good fleet in Middle East and also Latin America. 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 yes, let me start by saying also welcome and wishing you success in the new role. I think there was another question, which was related to the calendar. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. 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. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. This is one of the largest renewable PPAs signed with an industrial group in Belgium and demonstrates the growing appetite for PPAs from a broader range of customers. Iberdrola shares nearly doubled. The 48-year-old MacGregor replaces Isabelle Kocher, who was ousted by the Engie board in February, ensuring that a woman maintains a place at the top table of a major European utility. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. personalising content and ads, providing social media features and to Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. [indiscernible] Sam, for putting more pressure on us. I think we are now about time, so I would like to thank you for your attention. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. 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. 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. Ladies and gentlemen, this concludes this conference call. The ability to manage risk, we see mature risk increasing in the renewable arena, and we are really good at that. 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. And then your other question was related to the organization. And so the amount will be much lower than what you have seen in 2020. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line 2mo Glad to see all the progress. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. If you have an ad-blocker enabled you may be blocked from proceeding. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. We think, in general, gas is going to be important in this energy transition. We think its important to have a system play on renewables. Long-term growth drivers for asset-light activities are also strong, underpinned by major international actions plans, such as the European green deal towards making the EUs economy sustainable. Thank you very much, James, for your question. 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. And weve made some moves last year, and we will continue to do that. Thank you. And the answer is yes. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . For example, in addition to the Amazon contract that I mentioned earlier, ENGIE will supply 3 terawatt hours of renewable energy to the global chemicals group, INEOS, through a 10-year corporate PPA. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. Recharge is part of DN Media Group. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. A short stay for a rich experience and deep learning. I would like to pay tribute to their mobilization, which has enabled us to: 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. I mentioned earlier two things actually. French utility's new chief Catherine MacGregor to increase investment in renewables. 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. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). Biography [ edit] So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. 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. Pour les articles homonymes, voir MacGregor. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. 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. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. So maybe I will start with your last question, which is around the decision on nuclear. 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. I guess, whats the kind of your average period of sort of non-productive capital work in progress? 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 have some core competencies. And hopefully, we can share more of that in May when we come back to you. By Gwnalle Barzic and Geert De Clercq. Does this mean that Equans is now getting nothing? 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? This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. 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. Welcome to the sector, indeed. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! On the following slide, Ill share our 2021 expectations for each business line. Areas of expertise ; We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. Good morning, everyone. No, thank you. French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. 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. That will put pressure on Ms MacGregor to make her mark . Thats one thing. 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. 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. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. [Operator Instructions] We will take our first question from James Brand with Deutsche Bank. 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. The peer groups done very well. 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. Ms MacGregor is 48, she's been the Chief Exec. 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. You will remember last year, we had close to 200 million, which was really driven by 2 things or 2019, sorry, we had roughly 200 million, 2 things. Is this happening to you frequently? Thats really clear. Sure. She was in charge of the entitys IPO. 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? Is it something that you will tell us more about in May? Read more about DN Media Group here. A warm welcome as well to you, Catherine MacGregor. And we will now take a last question from Louis Boujard with ODDO. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, This is particularly noteworthy in the context of the unprecedented pandemic. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. And we will now take our next question from Vincent Ayral with JPMorgan. Battery storage is expensive, produces no net power, has a very high LCA and basically impossible at the needed grid size. Two questions from me. And while were not going to grow it at the same rate as Renewables and Networks, we will be opportunistic in managing this fleet. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. And what is your philosophy there? The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. For cost savings, you can change your plan at any time online in the Settings & Account section. 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. And this is something, obviously, that we are going to continue and push. I have a couple of questions, 1 for Catherine and 1 for Judith. However, we claim we have a valid solution to the above problem,, inviting large corporations like Engie and others reading this, to scrutinize our numbers and concept very carefully. You can still enjoy your subscription until the end of your current billing period. 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? Please disable your ad-blocker and refresh. These headwinds were partly offset by a 700 million positive change in working capital requirements from energy management activities driven by dynamic management of margin calls in 2020 in a context of extreme volatility of commodity prices. 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. So on EVBox, were very happy to have announced this transaction. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. and other data for a number of reasons, such as keeping FT Sites reliable and secure, 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. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. Therefore, we do continue that we do think that gas will continue to play a very key role. One was the CapEx. On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. And then, of course, now this partial sell down that were planning into a SPAC transaction. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. You mentioned the COVID impact and how to think about it in 2021. You have, of course, in mind, that we have committed to fund our waste provision until 2025. Yes. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. 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. So again, of course, I mean, it 2020 was heavily impacted. Its a geography refocus. Before I say more on this, let me review the groups overall 2020 performance. organisation So thats a positive. Its been a period in which the sector was exceptionally strong. And so were keeping 40%. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. 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. So to summarize, ENGIE made progress at pace in 2020. 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. 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. The second half showed a clear recovery with less stringent confinement measures but also with improved processes and protective equipment for our teams. Offshore wind is typically much longer. So no specific things to be taken into account. Find here the list of all the sessions presented by this speaker in order not to miss any of it. In this uncertain environment, ENGIE's strategy for a balanced, affordable, and resilient energy mix has proven its relevance and we have stayed on track! Posted mercredi, avril 14 2021 Last month, with her feet barely under the desk, Catherine MacGregor was required to appear before the French senate's economic affairs committee be grilled on Engie's strategy. 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. Together, let's continue to make a difference! Education Catherine MacGregor has obtained a degree from CentraleSuplec in 1995. Do you have a vision about taking this proportion of minorities down for the group? On your two questions, 1 was on the tax rate. Compare Standard and Premium Digital here. And part of this feedstock sometimes continue to rely on coal. 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 Jusqu' l'arrive de Christel Heydemann la tte d'Orange en 2022, elle est la seule femme la tte d'une entreprise du CAC 40[7]. Select Accept to consent or Reject to decline non-essential cookies for this use.
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