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Within this guidance, we have included our current estimate of the potential impact. And so were confident to be able to invest in lots of opportunities that Catherine talked about. But on defining the structure, does that mean we have a disposal in Q3, Q4? But in short, we have big ambition, but we will be disciplined. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. And then, of course, you also remember that, in 2020, we have decided to more consolidation where it makes strategic and financial sense, as it was mentioned earlier. And Judith will give you a little bit of the background and more details on the rest. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. Because there was a time when that business was making around 600 million of COI. Its been a period in which the sector was exceptionally strong. And I was interested to get your philosophy about minorities. Premium access for businesses and educational institutions. 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. . The 48-year-old MacGregor replaces Isabelle Kocher, who was ousted by the Engie board in February, ensuring that a woman maintains a place at the top table of a major European utility. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. There are 25 older and 1 younger executives at ENGIE SA. In other words, direct stable energy is needed these hours. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. 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. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. Now Ill comment on the bridge from net recurring income group share to net income group share, which was negative 1.5 billion in 2020. These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. For example, we significantly enhanced our renewables footprint in the U.S. Its two and probably a little bit more early. I think there was another question, which was related to the calendar. We delivered for our customers while continuing to invest in major capital projects. On quick one on numbers, on guidance. And it would be helpful if you could highlight for us any meaningful one-offs embedded in the 2020 results, whether positive or negative that we should bear in mind as we build our bridge to 2021? The COVID impact on our thermal activities was minimal with lower demand mainly in Chile and Peru. 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. So the 150 million I gave is correct. And I suppose when we see you planning a CMD in May, I think lot of us are hoping that youll be able to do something similar at the May event. 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. And I look forward to leveraging their strengths to deliver on a full agenda in such critical times for the energy industry and for ENGIE. 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. You can see that on the recent months trading for renewable players. And so we have assumed a very strong recovery like we have seen it in the second half. This higher tax rate included notably the adjustment of carrying value of some deferred tax assets and the one-off effect of the tax rate change in the UK. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. So in short obviously, its a topic we could talk for hours. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. We have a lot of experience over the years developed through our generation and thermal activity. We support credit card, debit card and PayPal payments. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. We are investing in our strategic priorities for long-term value creation. 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. 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. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." [indiscernible] Sam, for putting more pressure on us. Precisamos de 20.000 apoios para que a ideia se transforme em lei. Elle est alors nomme prsidente New Ventures de TechnipFMC. Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). French utility's new chief Catherine MacGregor to increase investment in renewables. This change led to an impairment, which Judith will cover shortly. Judith, you want to start with the EVBox question? And then I also had a question on the coal phase out. And given that theyre contracted, to maybe accelerate other areas of the business? 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. 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. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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. With respect to the recent extreme weather events in Texas, we are assessing the situation. So thank you very much, and bye-bye. So no impact there, of course, on G&A reduction and about 800 million of assets. 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. Ow, nobetter ! 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. Hopefully you can also take this into account? Also from my side, Catherine, a very warm welcome to the sector and wishing you all the best. Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. #beyou #beunique #beunited ENGIE Africa cookies Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! Recharge is part of DN Media Group AS. Theyre going into similar areas with Networks is an important aspect. 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. And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. 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. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. Standard Digital includes access to a wealth of global news, analysis and expert opinion. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, CEO of French energy giant Engie since January, Catherine MacGregor hopes to lead the company into a brighter and greener future. ENGIE has developed a strong platform in Client Solutions from which we can tap into the growth in this space. So here, generally, the question, how do you think about the future of the gas networks? This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. And Ill turn to Judith maybe for the cash flow from Nuclear. One is, of course, to participate in the future growth that we are projecting for this company; and second, of course, the close link into this space, which is a very important space for us. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. Congratulations to all of our employees on the well-deserved bonus. 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. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. Let me give you the 2020 COI highlights. Now turning to Networks. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. Were, in fact, very positive and excited about the opportunity of these businesses, very, very different from other more traditional mtier that we have in ENGIE, and the idea is really to form a very coherent entity, which Jrme Stubler is very busy doing right now. Obviously, well give you more color on our ambition on renewables in May. Its the first step. Even if you ten-double the installations of these sources, the 40% remains. 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. Biography [ edit] The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. Our near-term priority in the region is to commission two major electricity transmission projects. Good luck with the new role, Catherine. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Its going to take us some time. 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. 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. Net recurring income group share was within the guidance range, and Judith will cover financial performance in more detail shortly. Both include the construction of new substations and upgrades to existing substations and are expected to be commissioned in the second half of this year. It honors and commits me. 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+. We will run processes. 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. 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. And still on the asset rotation, this leaves you probably, I dont know, 12 billion of total proceeds, maybe overall when we put everything all together. And so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. 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. And so were excited about this transaction. Here's a bit more, on climate change and from a few years ago, but still relevant. We have in the U.S. the largest development pipeline. Elle a t leve au Maroc[1]. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. 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 for my question, the first is on the asset rotation. 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. So in general, we have 31-gigawatt portfolio. 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. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. 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. A warm welcome as well to you, Catherine MacGregor. And I was very pleased to hear that you put simplification at the center of your new vision for the group. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. In Renewables, we expect growth from asset commissioning in the United States from higher achieved prices for French hydro and from the potential positive effect of the CNR concession extension. Yes. For a full comparison of Standard and Premium Digital, click here. But is it bad? You may change or cancel your subscription or trial at any time online. Judith? How quickly can that new CapEx sort of translate into earnings? Learn more in our Cookie Policy. Recharge is part of DN Media Group. 2020 was really a milestone year for ENGIE in the U.S. with nearly 2 gigawatts of this new capacity commissioned across four states, taking our total installed renewable generation there to over 3 gigawatts. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. You can store it. organisation We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. 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. 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. 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. 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. Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? 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. We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. And second, its really focused and making sure that everybody pulls in the same direction. And does is your vision about full ownership versus minorities guiding your capital allocation going forward? Current positions of Catherine MacGregor It is important to say that our renewables growth ambition is not about entering a gigawatt race. Its were rounding numbers here, as you can see, because like I said, this is our target. or 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. When I think of hydrogen for ENGIE, I think all of our activities, all of our mtier benefit. [Foreign Language]. Nothing much more structural than that really, James, on supply improvement. 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.. Depending on opportunities, it could be this asset or another one. You mentioned the COVID impact and how to think about it in 2021. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. We also posted higher financial costs. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. One second, it will be over soon. - Play an important role in ensuring security of supply for France and Europe 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. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. Yes. 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. 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? commentary and analysis you can trust. 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. 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. She has spent her entire professional career working in the energy sector. Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. And as you might have noticed that lately, we have not really entered the race of enhancement of gigawatt. Biography. As a leader in gas networks, we are playing a critical role in enabling an affordable and smooth energy transition, and we are promoting a progressive increase in the role of renewable gases. Let me now turn to our ESG performance. Net interest expense was also slightly higher driven by negative FX and lower cash remuneration. 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]. Weve proven that over and over again in very, very recent past. Elle travaille pendant 23 ans chez Schlumberger. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. Iberdrola shares nearly doubled. La situation en France depuis plus de 50 ans We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. Ladies and gentlemen, this concludes this conference call. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. So on EVBox, were very happy to have announced this transaction. university Price is going up. A cycle, of course, could be 3, 4, 5 years depending on the country. Thank you, Emmanuel, for your questions. So first to reiterate on that, we are very pleased with our position on renewables, and we are leader in France. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. 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. I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. For this, I would like to say a big thank you to Judith, Paulo and Claire for their strong leadership in 2020, as they had the dual challenge of advancing the group simplification agenda whilst, at the same time, ensuring we continue to deliver essential services to our customers. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. It mainly affects our renewables and supply activities. For example, we signed several corporate PPAs with Amazon for a 650-megawatt global portfolio of wind and solar projects across the U.S., Italy and France. - Accompany our customers in their decarbonization strategies to face the climate emergency This is one of the largest renewable PPAs signed with an industrial group in Belgium and demonstrates the growing appetite for PPAs from a broader range of customers. COI decreased mainly driven by a 600 million impact from the pandemic. offers FT membership to read for free. 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.

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