Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. You can store it. 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. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. 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]. We also continued to benefit from the cost actions launched in the second quarter. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. And so from a financial impact standpoint, unlikely to be a 2021 story. The renewables COI, could you break that down, if you dont mind, into the change in hydro versus wind and solar in the 2020 numbers? [indiscernible] Sam, for putting more pressure on us. COVID weighed particularly heavily on Client Solutions and on Supply. I think thats clearly something the market will be expecting there. And so our whole plan that weve announced today, and obviously, very pleased to have made this announcement today, includes for each of these networks solution to convert the coal to other source of feedstock. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. You can read more about how we handle your information in our privacy policy. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. #beyou #beunique #beunited ENGIE Africa Could you clarify how much COVID impact youve included in 2021 relative to the 1.2 billion hit in 2020? And then, of course, right after that, you have hydrogen. 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. And lets now, indeed, look at our priorities for sustainable long-term value creation. 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. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. We will now take the next question from Meike Becker with Bernstein. MacGregor, an engineer . The peer groups done very well. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. She was in charge of the entitys IPO. This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. Engie board set to appoint Catherine MacGregor as new CEO. Sure. Were very pleased. Thank you very much, Aarti, and good morning, everyone. 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. Offshore wind is typically much longer. And then your other question was related to the organization. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . But we really want to focus on a return-based growth strategy. 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. So thats one aspect of it. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. And so these are some of the things that complexity and ability to manage activities that are very, very different from each other, I think really get in the way of performance. And that will be something that we will be describing a bit more in details in May. personalising content and ads, providing social media features and to If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. My first reaction with the bonus: Wow great ! Nothing much more structural than that really, James, on supply improvement. Biography. We invested 7.7 billion of CapEx in total. or 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. Sign up for more in-depth articles and insights. We support credit card, debit card and PayPal payments. Catherine, the floor is yours. We currently have leadership positions in all of these activities, and recent successes include a 30-year contract signed in Monaco to design, build, own and operate a seawater heating and cooling network that will enhance energy efficiency. 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. Thank you very much, James, for your question. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. But really appreciate, thanks again ! One was the CapEx. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. What you would be looking for? Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. Un article de Wikipdia, l'encyclopdie libre. 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. https://lnkd.in/ea25krWt You mentioned that you would also phase out coal in district heating. European utility giant Engie named oil & gas industry veteran Catherine MacGregor as its new CEO with a remit to lead the French group's ambitious renewables and energy transition plans. So when you will reinvest? The enshittification of apps is real. click here. Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. Its were rounding numbers here, as you can see, because like I said, this is our target. analyse how our Sites are used. Indeed, you can expect positive cash flow operation from our nuclear activities. And so the number that I quoted, which was the injection that we did last year, you start to see that it becomes meaningful. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. currently to 4 GW p.a. It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. And the second one, if I may ask, around Client Solutions. And I was very pleased to hear that you put simplification at the center of your new vision for the group. Even if you ten-double the installations of these sources, the 40% remains. You mentioned the COVID impact and how to think about it in 2021. 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. So youve been talking about investment discipline. Thank you. 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. La situation en France depuis plus de 50 ans Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. Obviously, we have made the decision to exit the coal, which is run under Thermal. This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. This is what I am committed to. Here's a bit more, on climate change and from a few years ago, but still relevant. We delivered for our customers while continuing to invest in major capital projects. 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 we will now take a last question from Louis Boujard with ODDO. 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. 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. A quick word on the agenda for this morning. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. , Dear Catherine, 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]. 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. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Yes. university Please. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. 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. 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 will now hand you back to Catherine for our 2021 priorities. 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. Est 53 centrales nuclaires qui vous donnent l'lectricit la moins chre au monde, We use your data to ensure you have a secure and enjoyable user experience when visiting our site. 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. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. 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. For cost savings, you can change your plan at any time online in the Settings & Account section. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. From November 1st DN Media Group is responsible for controlling your data on Recharge. Pour les articles homonymes, voir MacGregor. 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. Its coal exits. We have a very nice digital platform to help us manage our assets better. However, our results were ahead of our expectations on both metrics, and this was driven by the fact that the second half confinements were lighter in our main markets and that we adapted our processes, contributing to improved activity levels. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Congratulations to all of our employees on the well-deserved bonus. A warm welcome as well to you, Catherine MacGregor. Thank you, Sam, for your welcome message and your welcome question. We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. And does is your vision about full ownership versus minorities guiding your capital allocation going forward? Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. We also benefited from higher contributions of GTT thanks to a strong past order intake. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. Ladies and gentlemen, this concludes this conference call. She is the only female CEO in France's CAC-40 stock index; French Finance Minister Bruno. I think these are really, really good questions. 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. Its the first step. I have proper control over all inventory department with the skill of my Minimum and Maximum stock levels, Gerente Industrial | Gesto de Operaes e Servios | Supply Chain | Engenheiro de Produo | leo e Gs | Suporte Tcnico | Produo | Gesto da Qualidade, Pessoal, eu criei esta Proposta de Ideia Legislativa no Senado Federal que se transformada em lei criar as Poltica Nacional de Incluso das Pessoas 50+. And we will now take our next question from Ajay Patel with Goldman Sachs. In 2020, most of our newly commissioned assets were onshore wind followed by solar. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. Ses parents, d'origine corse et basque[1], sont professeurs. The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. So we feel very good about [indiscernible]. 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. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. On the following slide, Ill share our 2021 expectations for each business line. So thats a positive. Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. We also continued our relentless pursuit of simplifying the group. 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. Catherine was President of Technip Energies at TechnipFMC, and President of Drilling at Schlumberger. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Enel nearly tripled, Orsted quadrupled. Ill start maybe with, again, the second one on renewables. How quickly can that new CapEx sort of translate into earnings? 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. 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! So no specific things to be taken into account. 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. Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). Recharge is part of DN Media Group AS. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. The enshittification of apps is real. Its a geography refocus. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. On the strength of our shared industry culture and my operational experience, I will work with all of our teams to achieve our goal of enabling Engie to accelerate the energy transition.. Alongside renewables, we are also developing projects of up to 3 gigawatts of gas-fired generation. 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. Euro erzielen. 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. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. Comptences clefs . The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. Recharge is part of DN Media Group. Chef d'Agence Filire Vente Centre Ouest chez GRDF, Thank you Catherine Fiamma MacGregor for your post that combine strategy, progress and well-balanced energy mix (#renewable #gaz #power) to confirm meaning and a consistent vision to our company, not to mention the recognition. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . Elle travaille pendant 23 ans chez Schlumberger. [Foreign Language]. personalising content and ads, providing social media features and to The issue of having mtiers and activities that are so different from each other and I think weve talked a little bit about the multi-technical services, as an example, that require a management focus, a capital allocation policy, a system and attention to every cent that you have to spend, which is not necessarily something that is ENGIE DNA. 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 . Yes. Now that doesnt mean that we should not have discipline. I was very pleased to participate in the 9th Ministerial Meeting of the Southern Gas Corridor Advisory Council, and the 1st Ministerial Meeting of the Green Energy Advisory Council, held in #Azerbaijan last week. 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. You mentioned diversity of vast diversity of business line, et cetera. Our group remains committed to Belgium and to contributing to the countrys security of supply. Other generators like Uniper and Fortum have been very strong as well. Son profil de spcialiste, sa connaissance des enjeux oprationnels et des mtiers de l'nergie, son exprience internationale sont autant d'atouts pour le groupe And weve announced that there might be a second step, but we will obviously cross that bridge when it comes to it. Judith, you want to answer the second question? We expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. How old is Ms MacGregor? Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. To read more about DN Media Group, Estabelece ainda cotas 50+ proporcionais a populao para preenchimento de vagas no setor pblico. Thank you, Emmanuel, for your questions. Cheers! The final area of 2020 performance I would like to highlight is the groups continued progress in growing our renewable portfolio, which has grown significantly by 32% since the end of 2018. DN Media Group is the leading news provider in the shipping, seafood, and energy industries, with a number of English- and Norwegian-language news publications across a variety of sectors.