Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. If so, do you have a view to what level? And as in the past, we will be very mindful of timing. Education Catherine MacGregor has obtained a degree from CentraleSuplec in 1995. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. 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. Overall, we have 100 cooling networks with a total installed capacity of 6.1 gigawatts and 300 heating networks of various sizes that distribute 19 terawatt hours yearly. Sign up for more in-depth articles and insights. In terms of geography, we have a strong hold in Europe. The Board of Directors announces the appointment of Catherine MacGregor Estabelece ainda cotas 50+ proporcionais a populao para preenchimento de vagas no setor pblico. 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 warm welcome as well to you, Catherine MacGregor. It honors and commits me. She has spent her entire professional career working in the energy sector. Because there was a time when that business was making around 600 million of COI. Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. So maybe I will start with your last question, which is around the decision on nuclear. And the answer is yes. Overall, we currently estimate a potential net impact at the group COI and net recurring income group share level of between 80 million to 120 million. 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. Let me now focus on the evolution of net debt and on our leverage ratios. And sometimes, its okay to lose auctions if we dont get the right returns. This is value neutral over time as D&A is integrated in the regulated revenue. Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. CEO - Engie. It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. 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. 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 We also suffer from the same crisis and have also contributed to this, especially in the Corona years. We have some core competencies. These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. Weve seen peers in renewables showing a bit of a lack thereof of investment discipline, among other thing, the auction in UK offshore. And then, of course, in terms of Thermal, we will be very opportunistic. Do you have a vision about taking this proportion of minorities down for the group? Catherine MacGregor - Chief . analyse how our Sites are used. We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. Thank you. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. We also continued our relentless pursuit of simplifying the group. And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. What are you looking at? Catherine MacGregor appointed new Engie CEO | Financial Times We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. For example, we significantly enhanced our renewables footprint in the U.S. I was happy to see so many enjoying each others company. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. And so were confident to be able to invest in lots of opportunities that Catherine talked about. Solvay Alpharetta celebrates Black History Month. This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. In addition to EVBox, we expect to execute disposals of around 2 billion, aligned with the group simplification. We have also good fleet in Middle East and also Latin America. And I think the way I want to say this is I think we know the broad plan now for the business, but I think its also important to look back at the last 5 years and understand why essentially the investment thesis has not delivered so far for shareholders. One second, it will be over soon. All information you need to have a pleasant time during the event. 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. I would like to take this opportunity to thank all ENGIE employees who have worked so hard to deliver critical services for our customers in unprecedented conditions. Operator? Areas of expertise ; The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. And so we will not give specific assets, of course, at any given time. And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. 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. A cycle, of course, could be 3, 4, 5 years depending on the country. And the second one is very bad timing. Stepping back. 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. Stay informed and spot emerging risks and opportunities with independent global reporting, expert I think the team has done, so far, a really nice job. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. All these strategic advances, which place our Group as a leader in the low-carbon transition, are the result of the exceptional commitment of all our teams! Standard Digital includes access to a wealth of global news, analysis and expert opinion. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. So lots of enthusiasm around renewable. La situation en France depuis plus de 50 ans "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." We will make sure that we get the right price. Maybe some thoughts. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. 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. cookies I think on the question of network convergence between gas and power, I think were a bit obviously, different drivers behind this, one, which is the trend towards more electrification is something to stay. Now the guidance for 2021. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. Katherine MacGregor - Wikipedia It honours and commits me. Included within this guidance is an estimated impact that follows the extreme cold weather in Texas earlier this month. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. So here, generally, the question, how do you think about the future of the gas networks? We use And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. You mentioned that you would also phase out coal in district heating. Thank you Renata Spada for being yourself and authentic. Let me give you the 2020 COI highlights. And in terms of the supply, were really expecting supply to recover mainly from less COVID impacts, also looking at the temperature, which will improve. Again, especially when it comes to replace when it replace coal. De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. Lets now move to our Supply, Nuclear and Other activities. And we will now take a last question from Louis Boujard with ODDO. Holidays ? Were very pleased. 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 use But is it bad? You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. And so to in that respect, I think your comment might be valid. university In DHC networks, the worldwide market is expected to grow over 5% per year on average across the next nine the next five years. 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. Thank you #HariPrasad #PulakPrakash #PallavGogoi #AmitGhosh, Player Representation and Scouting for F&F Sports, Two Cows Explain Economics Better Than Any Class On quick one on numbers, on guidance. https://noviocean.energy/documents/ cookies But let me reassure you, there are several processes that have been launched, and so were confident that we can move at speed to really help simplify the group through the disposals. 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. COVID weighed particularly heavily on Client Solutions and on Supply. The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. 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. 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. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. 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. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. 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. And sorry, just a follow-up on the CapEx. Every Friday at a quarter past 10, the fire alarm. 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. (Tech. These factors, together with a track record in decentralized infrastructure and a fast-growing position in renewable gases, means we are very well placed indeed. Catherine Fiamma MacGregor is an Influencer, https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future, https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. 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. The first is on the Supply business. university CEO of French energy giant Engie since January, Catherine MacGregor hopes to lead the company into a brighter and greener future. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. , Dear Catherine, Recharge is part of NHST Global Publications AS and we are responsible for the data that you register with us, and the data we collect when you visit our websites. Okay. It will also require some infrastructure, maybe not with the same density at todays gas network. In France, we continued to invest into the gas smart meters rollout. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! Current positions of Catherine MacGregor Yes. 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. Catherine MacGregor: The winds of change - Leaders League Yes, its hard to give any precise guidelines on that because, of course, it depends on the M&A and greenfield mix, and it depends on the type of projects that youre after. We support credit card, debit card and PayPal payments. 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. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. Following which, as usual, well open the lines for Q&A. 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. 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. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. 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. 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. 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. janvier 2021 en qualit de Directrice Gnrale. This very unusual year translated into a mixed set of numbers. Check if your Therefore, we do continue that we do think that gas will continue to play a very key role. Please disable your ad-blocker and refresh. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. We had 1.2 billion total impact last year. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. The commitment and mobilization of all our teams at ENGIE is truly exceptional and it is an honor to be a part of such a dedicated and forward-thinking organization! So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. We will now take our next question from Emmanuel Turpin with Societe Generale. Now the 2021 guidance. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. So naturally, were landing more just below a 100 million figure for 2021. 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. Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. We will now take our next question from Sam Arie with Union Bank of Switzerland. And then, of course, right after that, you have hydrogen. In 2020, most of our newly commissioned assets were onshore wind followed by solar. We reshaped the portfolio by investing 7.7 billion CapEx and by disposing of 4.2 billion of assets. on the development of flexible and resilient energy systems. We will then consider next steps and review future ownership options for the new entity in the second half, maximizing value and acting in the interest of all our stakeholders. I think these are really, really good questions. 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. But in short, we have big ambition, but we will be disciplined. 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. Thanks, everyone, for your welcome message and very much look forward Judith and I very much look forward to meeting you, extending with you in the future and again, very, very excited about turning those tailwinds that ENGIE has had into reality. We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. Turning to our major focus areas starting with Renewables. Okay. Congratulations to all of our employees on the well-deserved bonus. We will now take the next question from Meike Becker with Bernstein. We will now take our next question from Peter Bisztyga with Bank of America. Biography. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. The current total coupon of 100 million per year has been reduced by 28% since 2017. And then the last thing I would want to mention, too, is on the positive side of this decision, is this will help us reallocate some earmarked, lets say, CapEx into, again, our growth opportunities in Renewables and in Networks. The Board has reaffirmed the groups dividend policy and proposed for 2020 a payout ratio of 75%, which is at the top end of the range. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. So its a huge project. 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 . This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. #mixedfeeling :D You can read more about how we handle your information in our privacy policy. Its, quite frankly, one of the big wins, I think, of last year when you think about it because both operationally to take this company to a level and multiply by almost 10 times their revenue over the last two years. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Altogether, these units can contribute to a yearly production of up to 3.9 terawatt hours, equating to the annual gas consumption for hitting approximately one million new build homes in France. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Good luck with the new role, Catherine. The ability to manage risk, we see mature risk increasing in the renewable arena, and we are really good at that. 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. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. CFFO was 7.1 billion in 2020, down 500 million versus 2019, mainly driven by the following effects. We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Euro erzielen. The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. We announced last December that EVBox would be listed on the New York Stock Exchange. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. 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. Catherine MacGregor a rejoint le groupe ENGIE le 1. er. We also posted higher financial costs. click here. Elle est alors nomme prsidente New Ventures de TechnipFMC. Turning to an update on the strategic review of part of our Client Solutions business that was launched in the second half of last year. Engie will also capture opportunities resulting from recovery plans announced in Europe, notably related to the development of green gases (biogas and hydrogen). To this end, we expect to invest between 5.5 billion to 6 billion growth CapEx, with over 90% of this in renewables, networks and asset-based client solutions. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? Thank you, Emmanuel, for your questions. And I was very pleased to hear that you put simplification at the center of your new vision for the group. Problem: 40% of the hours of the month there is minimum wind and zero sun. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. Thats a good clarification. With respect to the recent extreme weather events in Texas, we are assessing the situation. Here's a bit more, on climate change and from a few years ago, but still relevant. organisation https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. This was linked to a recovery of past energy costs, following the agreement on renegotiation of hydrological risk, which was finalized at the end of 2020. Ladies and gentlemen, this concludes this conference call. https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. 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. The key here is really to give that business its own industrial project, its own identity. 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. 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. Let me now hand you over to Judith to cover our financial overview, and I will come back on strategic priorities. Elle travaille pendant 23 ans chez Schlumberger. 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. You have, of course, in mind, that we have committed to fund our waste provision until 2025. Pour les articles homonymes, voir MacGregor. I will now hand you back to Catherine for our 2021 priorities. Catherine MacGregor - Biography And given that theyre contracted, to maybe accelerate other areas of the business? We think, in general, gas is going to be important in this energy transition. I will try and stick to two questions, too. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. And that will be something that we will be describing a bit more in details in May. So I thought, on this occasion, it would be great if you could take a few minutes just to share with us sort of your perspective on why the last few years have been so difficult for ENGIE, why the 2016 asset rotation plan didnt really deliver in the end and why the current asset rotation plan may be more successful. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. And importantly, we reaffirm our dividend policy, which relies on a 65% to 75% payout ratio on the basis of net recurring income group share. And then on your DBSO question, what were expecting for 2021 is roughly in line with what we had in 2020, so just below 100 million. Enel nearly tripled, Orsted quadrupled. They represent a key long-term growth engine for the group. Hydro had a strong increase organically but was down from a growth perspective because of the FX, of course, in the Brazilian real, and wind was an increase for the obvious reasons because we have been investing quite significantly in the past few years. We also continued to benefit from the cost actions launched in the second quarter. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. On 14th of January, I announced a new executive committee, and Im very pleased that Paulo, Edouard, Ccile and Sbastien have started their new business roles. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. or Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project.
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