On the following slide, Ill share our 2021 expectations for each business line. We reshaped the portfolio by investing 7.7 billion CapEx and by disposing of 4.2 billion of assets. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. We support credit card, debit card and PayPal payments. So really, in summary, three elements: complexity, sharper capital allocation, everybody pulling in the same direction and performance culture are three important elements, I think, that are going to make a difference and allow ENGIE, indeed, to strive in those strong tailwinds that continue to be there for us. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. The current total coupon of 100 million per year has been reduced by 28% since 2017. Theyre going into similar areas with Networks is an important aspect. 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. Its been a period in which the sector was exceptionally strong. 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. The peer groups done very well. Lemjed Bouzekri Thuli MOLOTO Bhupendra Singh Francisca Iturrieta Amadori Berivan Szgn, So pleased that people liked my post on trim tabs. And then, of course, now this partial sell down that were planning into a SPAC transaction. It honors and commits me. Please. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. , Dear Catherine, I think there was another question, which was related to the calendar. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. 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. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. Curious as to what my Linkedin connections think. Estabelece ainda cotas 50+ proporcionais a populao para preenchimento de vagas no setor pblico. Catherine will then come back and share our priorities. Yes. 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. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. Previous to these positions, she has worked 23 years at Schlumberger, the world's leading provider of reservoir characterization, drilling, production and processing technologies for the oil and gas industry. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. Next, a few words on the bridge from EBITDA to net recurring income group share. Sure. So without going into any specific, youre right to say that it does contribute to the simplification efforts. 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. 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. fusion, 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. - Accompany our customers in their decarbonization strategies to face the climate emergency 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. And the second one is very bad timing. 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. Now simplification is a bit of a general concept, and I was hoping for a bit more color from your part. Check if your Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. And weve announced that there might be a second step, but we will obviously cross that bridge when it comes to it. So there will be a capital gain on this. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. Thank you, Catherine, and good morning, everybody. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. 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. And Judith will give you a little bit of the background and more details on the rest. Let me now focus on the evolution of net debt and on our leverage ratios. But time will tell. Selbst im Worst-Case-Szenario komme Engie dann auf eine Bewertung mit einem KGV von rund 10. Its not like a 2020 event. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. Thank you. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. If so, do you have a view to what level? This was really driven by mix of the results, changes in some tax laws, including in the UK, and we are expecting to go to a more normal level at the 25% kind of range in 2021. 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]. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. Thank you. 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. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ Revenue declined on a gross basis by approximately 900 million for the full year. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. 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. Good luck with the new role, Catherine. Non Madame In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. 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 . Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Obviously, we have made the decision to exit the coal, which is run under Thermal. Judith? 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. Included within this guidance is an estimated impact that follows the extreme cold weather in Texas earlier this month. Within this guidance, we have included our current estimate of the potential impact. Is it something that could be you realize value of and take advantage of low rates? [1] She started her career on stage in New York City, in theatres off and on Broadway, credited as Scottie MacGregor . We have not seen prices like this in many years. So our main working scenario right now is that it wont happen. Thats a good clarification. So I was wondering whether you could share some thoughts on perhaps where you might be able to get back to perhaps over the medium term in that business? Our group remains committed to Belgium and to contributing to the countrys security of supply. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. In the past Ms. MacGregor held the position of President-Drilling Group at Schlumberger NV and Personnel Director at Oilfield Services Co. Ltd. Ms. MacGregor received an undergraduate degree from cole Centrale Paris. A warm welcome as well to you, Catherine MacGregor. 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. And does is your vision about full ownership versus minorities guiding your capital allocation going forward? From 2013 to 2016, she also served as President Europe & Africa at Schlumberger, before being promoted in 2017 to President of the Drilling business, while based in London. First, you will hear from our new CEO, Catherine MacGregor, on the highlights of 2020, followed by our CFO, Judith Hartmann, on our financial performance. 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. I guess, whats the kind of your average period of sort of non-productive capital work in progress? Overall, these positive factors are expected to more than offset year-on-year negative evolutions. 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. Excellent example of circular economy ! Aarti Singhal - Director of Investor Relations. Jean-Pierre Clamadieu, Chairman of the Board of Directors, declared: On behalf of the Board and employees of the Group, I am pleased to welcome Catherine MacGregor and wish her full success in her missions. Now that doesnt mean that we should not have discipline. 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. You mentioned that you would also phase out coal in district heating. And thats really the key part of what we do. Catherine MacGregor will join Engie as CEO. A short stay for a rich experience and deep learning. And so to in that respect, I think your comment might be valid. We have a team of about 300 developers who are really good at what they do. 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. Iberdrola shares nearly doubled. Keep abreast of significant corporate, financial and political developments around the world. What is the identity of the Thermal business? And so we have assumed a very strong recovery like we have seen it in the second half. Our near-term priority in the region is to commission two major electricity transmission projects. In her efforts to "simplify" Engie, MacGregor is moving from 25 business units to 4 globally, and . 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. How old is Ms MacGregor? 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. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. Let me now hand you over to Judith to cover our financial overview, and I will come back on strategic priorities. And while were not going to grow it at the same rate as Renewables and Networks, we will be opportunistic in managing this fleet. We announced last December that EVBox would be listed on the New York Stock Exchange. On the other hand, we, obviously, want stability in a power system. To Engie in my case. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. French Networks had limited COVID impact also mainly on distributed gas volumes. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. This change led to an impairment, which Judith will cover shortly. At the event, we were pleased to highlight how #Masdar is working with our partners in Azerbaijan to develop world-class clean energy projects like the 230 MW Garadagh Solar PV Plant, with further agreements to develop up to 10GW of clean energy capacity across #onshorewind, #offshorewind, #solar, and #greenhydrogen projects. Enel nearly tripled, Orsted quadrupled. Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. https://waves-energy.co/maps/. Pay my electricity bill of next year. https://lnkd.in/ea25krWt Officer of ENGIE SA since . For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. But is it bad? On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. There are 25 older and 1 younger executives at ENGIE SA. To read more about DN Media Group, How quickly can that new CapEx sort of translate into earnings? We also posted higher financial costs. We use Yes. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. on the development of flexible and resilient energy systems. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. The ENGIE Board set out strategic orientations for the group last year in July 2020, and my new executive team and I have three clear priorities: firstly, simplifying the group at pace; secondly, investing further, investing in renewables, networks and asset-based client solutions, as these are areas of competitive strength for ENGIE; and finally, strengthening our groups commitment to the energy transition. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." Yes. 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. In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. The second half of 2020 showed a strong recovery after second quarter, which has which was heavily impacted by COVID. Today, I am very pleased to announce a commitment to exit all coal assets in Europe by 2025 and globally by 2027, in line with our purpose to drive carbon neutrality. Laut Konzernchefin Catherine MacGregor werde man im laufenden Geschftsjahr 2023 einen Gewinn zwischen 3,4 und 4 Mrd. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. 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. Biography. 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. No, thank you. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. 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. When I think of hydrogen for ENGIE, I think all of our activities, all of our mtier benefit. Im Aarti Singhal, Director of Investor Relations at ENGIE, and welcome to our 2020 annual results conference call. La situation en France depuis plus de 50 ans This will mean a transition based on a combination of electrification and decarbonization of gas as well as on the development of flexible and resilient energy systems. It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. And thank you, Catherine, too, for your answer, which I think we all appreciate, and we wish you with that, just final comment from my side, then Ill turn it over. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. We also invested in #RenewableEnergy with the acquisition of 6 GW of solar and storage capacity projects in the US and signed an MOU to develop 3 GW of #wind power in Egypt. 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Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. We will now take the next question from Meike Becker with Bernstein. Okay. Even if you ten-double the installations of these sources, the 40% remains. We have a new business organization and leadership team who is focused on performance, and weve committed to executing our strategy to accelerating the group growth and to strengthening our commitment to the energy transition. I think, as you pointed out, theres been a little bit of a race to gigawatts. 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. And if so, what quantity? Judith, you want to answer the second question? De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. Standard Digital includes access to a wealth of global news, analysis and expert opinion. You can still enjoy your subscription until the end of your current billing period. 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. Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? 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. Indeed, you can expect positive cash flow operation from our nuclear activities. In addition to EVBox, we expect to execute disposals of around 2 billion, aligned with the group simplification. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. 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. When expanded it provides a list of search options that will switch the search inputs to match the current selection. But we really want to focus on a return-based growth strategy. Cheers! Net recurring income group share was in line with guidance but at the bottom end of the range. 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. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. 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. Thank you very much, Judith. You certainly have a lot of people out here who want you to be very successful. And so the number that I quoted, which was the injection that we did last year, you start to see that it becomes meaningful. We want to develop and further our differentiation. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. 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. 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? Okay. I was happy to see so many enjoying each others company. Recharge is part of DN Media Group AS. 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]. 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. But just one observation is a key part of success, I think, for some of your peers has been laying out quite detailed guidance over a 3-year period. 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. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. On your two questions, 1 was on the tax rate. And Im going to pass it on to Judith to comment maybe on the other questions. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. With respect to the recent extreme weather events in Texas, we are assessing the situation. Turning to our major focus areas starting with Renewables. Notre lectricit est dj propre From November 1st DN Media Group is responsible for controlling your data on Recharge. 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 Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. And maybe the last point, which is around performance culture, which I think can be improved within ENGIE, and here again, I can assess that the first reaction to this discussion within the company leads me to believe that we can make some inroads on that topic as well. 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. Let me now move to a detailed view per business line. I want to take advantage also to clarify on a question that I was asked earlier on the nuclear impairments and the impact on D&A. Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. I have a couple of questions, 1 for Catherine and 1 for Judith. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. 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. 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. This is particularly noteworthy in the context of the unprecedented pandemic. I look forward to continuing to work closely with our brothers in Azerbaijan, and our partners across Europe and around the world, to deliver on our shared clean energy ambitions. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? So in short obviously, its a topic we could talk for hours. I will now hand you back to Catherine for our 2021 priorities. Premium access for businesses and educational institutions.