Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? Biography. On the renewables COI for 2020 of about 1.1 billion, basically, you can assume that the main contributors were hydro and wind, hydro about 700 million of that and wind was the rest. 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. Compare Standard and Premium Digital here. 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 . In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. So again, when you think about the business and the need to have a resilient power system, gas has actually a very critical role to play. It's inspiring to see how ENGIE's strategy for a balanced, affordable, and resilient energy mix has proven its relevance in these uncertain times. A particular region of international growth in Networks has been Latin America, where, in addition to gas, we are also building power transmission lines. And what is your philosophy there? Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. Although we were in crisis management most of 2020, we did not lose focus on our long-term objectives and continued to invest for the future. Its not like a 2020 event. 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. COVID weighed particularly heavily on Client Solutions and on Supply. Is it something that you will tell us more about in May? Engie appoints oil services executive to execute new renewables strategy 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. Katherine MacGregor - Wikipedia Lets now move to our Supply, Nuclear and Other activities. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. Im Aarti Singhal, Director of Investor Relations at ENGIE, and welcome to our 2020 annual results conference call. The 281 million year-on-year COI decrease notably reflects warm temperatures and higher D&A in France. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. - Play an important role in ensuring security of supply for France and Europe And thats really the key part of what we do. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, So let me start then with your question on Thermal. This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. Maybe some thoughts. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. In 2020, most of our newly commissioned assets were onshore wind followed by solar. We think, in general, gas is going to be important in this energy transition. On quick one on numbers, on guidance. 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. The Board of Directors announces the appointment of Catherine MacGregor 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? Okay. Catherine MacGregor - Forbes 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. This is what I am committed to. Catherine MacGregor: The winds of change - Leaders League Thank you very much for your attention, and I would like to turn now the line back to the operator for the Q&A session. Solvay Alpharetta celebrates Black History Month. 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. 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. 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. 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. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. So when you will reinvest? Thanks to Faye Kirby and Valencia Anderson for setting up the display and sharing books written by black authors. Engie names Catherine MacGregor as new CEO - Offshore Energy You may now disconnect. COI was adversely impacted by roughly 300 million due to foreign exchange and by an aggregate negative scope effect of 75 million. La situation en France depuis plus de 50 ans 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. Following which, as usual, well open the lines for Q&A. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. Before I share my view on 2021, here are our 2020 financial highlights. 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? We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. Welcome to the sector, indeed. Together, let's continue to make a difference! Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. So two questions, please. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. So that is roughly what you have to have in mind. 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. Ms MacGregor is 48, she's been the Chief Exec. Engie board set to appoint Catherine MacGregor as new CEO. Net interest expense was also slightly higher driven by negative FX and lower cash remuneration. But time will tell. Thank you, Emmanuel, for your questions. 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. Its a geography refocus. We have a strong position in Brazil, in Peru, in Chile. Let me now focus on the evolution of net debt and on our leverage ratios. Premium access for businesses and educational institutions. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. Check if your But now that we have officially become Equans for a few weeks, this message that all ENGIE employees worldwide will receive a bonus of 1500,- comes as a disappointment. On your two questions, 1 was on the tax rate. With our strong local presence in key geographies and leading capabilities across the power generation value chain, including in energy management, which is a key for commercializing renewable energy, we are confident in our ability to drive long-term value creation from this renewables growth. janvier 2021 en qualit de Directrice Gnrale. 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 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. In DHC networks, the worldwide market is expected to grow over 5% per year on average across the next nine the next five years. French utility's new chief Catherine MacGregor to increase investment in renewables. In Nuclear, we expect contribution to increase as volumes should be higher, thanks to better availability. 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. Net recurring income group share was within the guidance range, and Judith will cover financial performance in more detail shortly. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. 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. 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 are experts in sourcing projects, in dealing with permitting, land ownership issues, financing, partnering, environmental assessment and all that good stuff as well as aspects of social acceptability, which is really important in the development of renewables as you know. Strong management actions allowed us to variablize and reduce total OpEx by approximately 300 million. Renewable #Gas: We continue to make progress, with 459 #biomethane production units connected to our networks in France, and with 5 of our #hydrogen projects in Europe selected to benefit from public aid from the European Commission. Operator? The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. But really appreciate, thanks again ! Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. And so were excited about this transaction. This really has two reasons. I was wondering whether you could just remind us where youre still using coal in district heating and what the options are there, whether youre planning on investing and converting those units to cleaner fuels? This is particularly noteworthy in the context of the unprecedented pandemic. To Engie in my case. 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. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. That will put pressure on Ms MacGregor to make her mark . 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. This was partially offset by capital gains, the main one being 1.7 billion due to the sale of the 29.9% shareholding in SUEZ. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. Catherine was President of Technip Energies at TechnipFMC, and President of Drilling at Schlumberger. Thats a good clarification. So for my question, the first is on the asset rotation. And I just wanted maybe to clarify that the government has not explicitly made the decision. 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]. (Tech. The key here is really to give that business its own industrial project, its own identity. The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. Please disable your ad-blocker and refresh. analyse how our Sites are used. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. And Im going to pass it on to Judith now for the COI details on Renewables. personalising content and ads, providing social media features and to Lastly, COI for other activities decreased as 2019 benefited from a positive one-off related to partial sale of a gas supply contract, in 2020 was impacted by COVID mainly due to credit losses for GEM. Vocs conseguem nos apoiar? Okay. But in short, we have big ambition, but we will be disciplined. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. At the end of 2020, the financial net debt-to-EBITDA ratio was 2.4 times, a slight decrease compared to December 2019. So first to reiterate on that, we are very pleased with our position on renewables, and we are leader in France. And second, its really focused and making sure that everybody pulls in the same direction. Price is going up. Biography [ edit] If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. To remind, the company said in July that it intends to implement a new capital allocation strategy, focusing on two growth areas servicing the energy transition. 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. Weve proven that over and over again in very, very recent past. And so from a financial impact standpoint, unlikely to be a 2021 story. Before I say more on this, let me review the groups overall 2020 performance. Judith, you want to start with the EVBox question? Is it something that could be you realize value of and take advantage of low rates? Areas of expertise ; Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. Elle travaille pendant 23 ans chez Schlumberger. This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. 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. ENGIE SA (ENGIY) CEO Catherine MacGregor on Full Year - SeekingAlpha So thats a positive. The ability to manage risk, we see mature risk increasing in the renewable arena, and we are really good at that. We also continued to benefit from the cost actions launched in the second quarter. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. personalising content and ads, providing social media features and to CEO of French energy giant Engie since January, Catherine MacGregor hopes to lead the company into a brighter and greener future. And so we consider that these are going to be very important in the near term at least in order to maintain a power system that is both robust and affordable, which was some of the features that I described in my talk, as extremely, extremely important for this energy transition. https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. And so were confident to be able to invest in lots of opportunities that Catherine talked about. 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! So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. We are a smaller company than Engie normally would partner with. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. Please go ahead. 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. 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]. In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. 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And I think, namely complexity is one thing. We also benefited from higher contributions of GTT thanks to a strong past order intake. Indeed, we had an increase a temporary increase in 2020 to 32.5%. Stay informed and spot emerging risks and opportunities with independent global reporting, expert Simply log into Settings & Account and select "Cancel" on the right-hand side. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. In Networks, lower RAB remuneration rates in France should be offset by the reversal of 2020 warm temperatures as well as continued growth in Latin America. If you have an ad-blocker enabled you may be blocked from proceeding. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . A warm welcome as well to you, Catherine MacGregor. Moving to Networks, which were resilient despite the pandemic. EBITDA and COI were both down significantly from last year mainly due to the impact of the pandemic. Is this happening to you frequently? Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. How old is Ms MacGregor? We are assessing the situation, which mainly affects renewables and supply activities. Catherine MacGregor est elle-mme mre de deux filles[2]. And the second one is very bad timing. , Dear Catherine, Select Accept to consent or Reject to decline non-essential cookies for this use. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. #beyou #beunique #beunited ENGIE Africa It is important to say that our renewables growth ambition is not about entering a gigawatt race. From November 1st DN Media Group is responsible for controlling your data on Recharge. 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. And then I also had a question on the coal phase out. [indiscernible] Sam, for putting more pressure on us. Tax charges were 300 million lower mainly due to the decrease in profit. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. For example, we significantly enhanced our renewables footprint in the U.S. At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. 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. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. 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. Do you see eventually opportunities in the future going forward with the convergence between power network and gas network considering the evolution of the hydrogen, Catherine? Before that she had a 23-year career with oilfield services giant Schlumberger, ending as president of the drilling business. CFFO was 7.1 billion in 2020, down 500 million versus 2019, mainly driven by the following effects. And with that, Im pleased to hand you over to Catherine. We will now take our next question from Sam Arie with Union Bank of Switzerland. Our group remains committed to Belgium and to contributing to the countrys security of supply. I would say that some of the things that were decided last year with these strategic orientations, I am very, very convinced that well address some of the shortfalls that can explain some of the ENGIEs underperformance in the past few years. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. A graduate of the Paris cole Centrale (CentraleSuplec), Catherine MacGregor has spent her entire professional career working in the energy sector, including 23 years with Schlumberger, the world's leading supplier of technologies for characterizing, drilling, producing and processing reservoirs for the oil and gas sector. Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? PDF CATHERINE MACGREGOR Directrice Gnrale - Engie 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. Therefore, we do continue that we do think that gas will continue to play a very key role. And then the second one, its for Catherine. This was mainly due to impairments, especially related to our nuclear reactors. I have one question for Judith and one for Catherine, please. 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. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. So Ill ask two questions. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. Thank you very much, Judith. Precisamos de 20.000 apoios para que a ideia se transforme em lei. And given that theyre contracted, to maybe accelerate other areas of the business? And so the amount will be much lower than what you have seen in 2020. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. And sorry, just a follow-up on the CapEx. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. 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, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only). So no impact there, of course, on G&A reduction and about 800 million of assets. [Foreign Language]. Hopefully you can also take this into account? With respect to the recent extreme weather events in Texas, we are assessing the situation. I think we are now about time, so I would like to thank you for your attention. To read more about DN Media Group, Why the effort to reorganize this entity given the strategic review regarding a potential disposal? And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. Again, especially when it comes to replace when it replace coal. 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