In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. French utility's new chief Catherine MacGregor to increase investment in renewables. Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. With respect to the recent extreme weather events in Texas, we are assessing the situation. We also posted higher financial costs. 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. 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? 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. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. 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. 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. This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. 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. So and then maybe Ill add that there is also, I think, a lot of things we can do and we are doing, and we will continue to do and even increase around industrialization, procurement, supply chain, of course, digital. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. ENGIE thanks you for your participation. What is the identity of the Thermal business? Is it something that you will tell us more about in May? In recognition of their outstanding contribution in this energy crisis, given the inflationary context and our financial performance, we have decided to award an extraordinary bonus of 1500 to all ENGIE employees worldwide. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ Thank you very much, James, for your question. 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. #mixedfeeling :D And then your other question was related to the organization. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. All information you need to have a pleasant time during the event. So in terms of creating an entity as part of our strategic review of Client Solutions, one of the things that is important to understand about this business is that it has grown within ENGIE as a series of acquisition and local development and so today, dont quite belong into a coherent entity and is not led as an independent or well-defined part of ENGIE. And moving now to our international networks, where we are leveraging the deep networks experience we have in Europe. But is it bad? 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. So we really have some really nice differentiation that we want to use in order, for sure, to be competitive but without sacrificing the return. Cheers! In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. Net interest expense was also slightly higher driven by negative FX and lower cash remuneration. Thank you, Sam, for this question. Education Catherine MacGregor has obtained a degree from CentraleSuplec in 1995. I would love to hear from you. Hosted by His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, my dear friend His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan, and Kadri Simson, EU Commissioner for Energy, this is an important forum for advancing Europes #cleanenergy ambitions. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. Catherine MacGregor will join Engie as CEO. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. This has been a concern for the market. This really has two reasons. In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. On quick one on numbers, on guidance. So the 150 million I gave is correct. Included within this guidance is an estimated impact that follows the extreme cold weather in Texas earlier this month. For cost savings, you can change your plan at any time online in the Settings & Account section. In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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. We have a very nice digital platform to help us manage our assets better. And one of the things to keep in mind, when you say how can you speed up is also that we have less sell downs in Renewables in 2021. We have a team of about 300 developers who are really good at what they do. Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. In that entity that we are forming, which is the object of the consultation weve talked about, there will be 34,000 roughly 74,000, sorry, 74,000 people. Let me now hand you over to Judith to cover our financial overview, and I will come back on strategic priorities. on the development of flexible and resilient energy systems. We have not seen prices like this in many years. 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. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. 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 been a period in which the sector was exceptionally strong. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. Hopefully, thats an easy one, but would be very helpful. Higher D&A was mainly due to accelerated amortization of some distribution assets. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. You can update your choices at any time in your settings. You mentioned diversity of vast diversity of business line, et cetera. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. And lets now, indeed, look at our priorities for sustainable long-term value creation. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. CEO Affiliation Engie Country France 2020 Rank 13 In her first year as CEO of the giant French power company, MacGregor, an oil and gas industry veteran, focused on simplifying the $63.5. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. Together, these drivers helped to more than offset negative foreign exchange in Brazil, Mexico and Argentina. Congratulations to all of our employees on the well-deserved bonus. We have some core competencies. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. I think there was another question, which was related to the calendar. 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. Elle est alors nomme prsidente New Ventures de TechnipFMC. Simply log into Settings & Account and select "Cancel" on the right-hand side. 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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. Catherine MacGregor est elle-mme mre de deux filles[2]. organisation Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. 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. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. So naturally, were landing more just below a 100 million figure for 2021. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. According to the IEAs latest sustainable development scenario, in Europe alone, energy from biomethane and hydrogen could potentially grow three times from 2019 levels to over 300 terawatt hours in 2030. ENGIE SA (ENGIY) CEO Catherine MacGregor on Full Year - SeekingAlpha 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. Compare Standard and Premium Digital here. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. 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. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. A quick word on the agenda for this morning. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. 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. What you would be looking for? Notre lectricit est dj propre However, the gross COI evolution was negative 125 million mainly due to foreign exchange. Judith? Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de Welcome again to Catherine. So for my question, the first is on the asset rotation. 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 . We do believe that its important to keep return in mind whenever we bid, and there is no must-win auction in ENGIE. And how quickly do you think it can actually contribute to your earnings, please? Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. She occupied a number of roles within [] You certainly have a lot of people out here who want you to be very successful. We want to develop and further our differentiation. This is what I am committed to. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. Finally, on Client Solutions, we see a strong growth potential driven by decarbonization and energy efficiency, especially in heating and cooling networks, on-site generation, and green mobility among other asset-based solutions. She has spent her entire professional career working in the energy sector. Now the 2021 guidance. 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. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. - Contribute to measures to support purchasing power Engie will also capture opportunities resulting from recovery plans announced in Europe, notably related to the development of green gases (biogas and hydrogen). In the summer of 2019, she chose to pursue her career in the energy industry by joining the executive committee of the TechnipFMC group to lead its onshore and offshore engineering and construction activities, Technip Energies. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. Estabelece ainda cotas 50+ proporcionais a populao para preenchimento de vagas no setor pblico. Catherine MacGregor appointed new Engie CEO | Financial Times 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. 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. In Renewables, we expect growth from asset commissioning in the United States from higher achieved prices for French hydro and from the potential positive effect of the CNR concession extension. Or does it have its own game plan? CFFO was 7.1 billion in 2020, down 500 million versus 2019, mainly driven by the following effects. All options for the sale of Equans, the newly-created services unit of French energy group Engie (ENGIE.PA), are being considered, including a possible listing, Chief Executive Catherine MacGregor . Precisamos de 20.000 apoios para que a ideia se transforme em lei. 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. So our main working scenario right now is that it wont happen. Select Accept to consent or Reject to decline non-essential cookies for this use. I was happy to see so many enjoying each others company. Are you working on a new organizational format? 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. Okay. On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. 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. This is particularly noteworthy in the context of the unprecedented pandemic. 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. Thank you, Sam, for your welcome message and your welcome question. university In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. So two questions, please. You mentioned the COVID impact and how to think about it in 2021. We use It will also require some infrastructure, maybe not with the same density at todays gas network. And Im going to pass it on to Judith now for the COI details on Renewables. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. Welcome to the utilities world. And the second one, if I may ask, around Client Solutions. Parit homme-femme au sein des directions gnrales encore loin du Also on the same point, risking up or risking down in the future strategy, what is your view on how the risk profile for ENGIE should change going forward? Climate Week NYC 2021: Interview With Catherine MacGregor, CEO Of ENGIE 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. And yes, let me start by saying also welcome and wishing you success in the new role. Let me now turn to our ESG performance. Areas of expertise ; 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. A cycle, of course, could be 3, 4, 5 years depending on the country. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Now the guidance for 2021. Maybe some thoughts. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. I have one question for Judith and one for Catherine, please. It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. 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. When I think of hydrogen for ENGIE, I think all of our activities, all of our mtier benefit. And Im going to pass it on to Judith to comment maybe on the other questions. I will now hand you back to Catherine for our 2021 priorities. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. And this is something, obviously, that we are going to continue and push. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. Together, let's continue to make a difference! 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.
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