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). Stay informed and spot emerging risks and opportunities with independent global reporting, expert Excellent example of circular economy ! Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. 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. 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! I think these are really, really good questions. Standard Digital includes access to a wealth of global news, analysis and expert opinion. The oldest executive at ENGIE SA is Francoise Malrieu, 73, who is the Independent Director. So I think this is a key point Id be interested in. COI decreased mainly driven by a 600 million impact from the pandemic. offers FT membership to read for free. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. 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. On the 100 million, quite frankly, there isnt any unusuals that you should assume. CEO of French energy giant Engie since January, Catherine MacGregor hopes to lead the company into a brighter and greener future. We want to develop and further our differentiation. 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. It honors and commits me. 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. , Dear Catherine, COVID weighed particularly heavily on Client Solutions and on Supply. 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. We have made the decision to stop the work to prepare for this such an extension. But where should we be hoping that Supply COI gets back to either this year or perhaps over the medium term? But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? She occupied a number of roles within [] If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Does this mean that Equans is now getting nothing? We delivered for our customers while continuing to invest in major capital projects. 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. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. Cheers! Very yes, good question.
The Board of Directors announces the appointment of Catherine MacGregor commentary and analysis you can trust. Siga o link abaixo e deixe seu apoio a esta poltica de incluso necessria ao nosso pas. 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. Were very pleased. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. She was in charge of the entitys IPO. #beyou #beunique #beunited ENGIE Africa 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. A quick word on the agenda for this morning. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. By Gwnalle Barzic and Geert De Clercq. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for 1 for 4 weeks, You will be billed 65 per month after the trial ends, Russian far-right fighter claims border stunt exposes Putins weakness, Germany seeks to buy Leopard tanks from Switzerland, Germany and Italy stall EU ban on combustion engines, Ukraine asks EU for 250,000 artillery shells a month, Russia on alert after reconnaissance group crosses over from Ukraine, Panic station at Fox News: how the Murdochs agonised over Trumps loss, Saudi owner of Londons most expensive house sued over alleged unpaid private jet bills, UK housing market braced for make-or-break spring, UK cabbage king turns to plant-based proteins, Airlines plan to sue Dutch government over Schiphol airport flight cap, There are no domestic equity investors: why companies are fleeing Londons stock market, Live news updates from March 3: Amazon pauses HQ2 construction, UK regulators launch LME probe, Deluge of inflation data pushes US borrowing costs to 2007 levels, FCA regulator blamed for Arms decision to shun London listing, Clutching Warrens letter, Im still positive on stocks. Her main mission was to prepare for the spin-off and IPO of Technip Energies, for which she put the energy transition at the heart of the strategy. With respect to the recent extreme weather events in Texas, we are assessing the situation. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. CFFO was 7.1 billion in 2020, down 500 million versus 2019, mainly driven by the following effects. Thank you. So no specific things to be taken into account. Thank you, Emmanuel, for your questions. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. 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. Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. Strategy: we have made progress in the execution of our plan to build a stronger and more unified Group, on the offensive to accelerate the energy transition. We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. Before that she had a 23-year career with oilfield services giant Schlumberger, ending as president of the drilling business. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close.
Catherine MacGregor | 2021 Most Powerful Women International | Fortune 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. We also continued to benefit from the cost actions launched in the second quarter. 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. Judith, you want to start with the EVBox question? 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!
Katherine MacGregor - Biography So yes, Thermal is a good fleet for us, good asset. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. On the other hand, we, obviously, want stability in a power system. Thats a good clarification. And maybe more importantly, where do you see subsidiary in five years and what it could contribute to your P&L considering the potential growth of these assets? And Im really I am personally convinced, enthusiastic about the idea of having a very sharp focus on capital allocation making sure that all of our managerial efforts go in the direction that weve announced, and well be able to show very positive results. Next, a few words on the bridge from EBITDA to net recurring income group share. Its going to take us some time. So thats a positive. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. I guess, whats the kind of your average period of sort of non-productive capital work in progress? or 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 sorry, just a follow-up on the CapEx. Also from my side, Catherine, a very warm welcome to the sector and wishing you all the best. It is important to say that our renewables growth ambition is not about entering a gigawatt race. I think the team has done, so far, a really nice job. In other words, direct stable energy is needed these hours. It seems to be the trend last few questions. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. MacGregor is poised to become the only woman leading a company in the CAC 40France's benchmark stock indexwhen she takes the reins at the utility Engie on Jan. 1. There are 25 older and 1 younger executives at ENGIE SA. 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. organisation So the what is happening here in France on biomethane is actually quite real, and so we are now looking at potentially having sufficient volume to fully displace what will be needed in gas at the 2050 horizon. Indeed, we had an increase a temporary increase in 2020 to 32.5%. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. 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. 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. 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. Elle a t leve au Maroc[1]. #Renewables: We have commissioned 2.5 GW of new #renewableenergy capacity since January and are on track to reach 4 GW by the end of the year. - Accompany our customers in their decarbonization strategies to face the climate emergency Thank you, Sam, for your welcome message and your welcome question. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. And sometimes, its okay to lose auctions if we dont get the right returns. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Im Aarti Singhal, Director of Investor Relations at ENGIE, and welcome to our 2020 annual results conference call. Ms MacGregor, an engineer by training who was born and raised in Morocco, will start in the CEO job on 1 January 2021, taking over a company that has been roiled over the past few years by a. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. And when we reflect about some of the trends around electrification, around the growth in renewables, we realize that flexibility, dispatchability are going to be very important to the future of the energetic mix. Congratulations Engie. You can still enjoy your subscription until the end of your current billing period. 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. 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? Hosted by His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, my dear friend His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan, and Kadri Simson, EU Commissioner for Energy, this is an important forum for advancing Europes #cleanenergy ambitions. First, you will hear from our new CEO, Catherine MacGregor, on the highlights of 2020, followed by our CFO, Judith Hartmann, on our financial performance. 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. Aarti Singhal - Director of Investor Relations. university This button displays the currently selected search type. We also benefited from higher contributions of GTT thanks to a strong past order intake. It honours and commits me. Jean-Pierre Clamadieu, Chairman of the Board of Directors, declared: On behalf of the Board and employees of the Group, I am pleased to welcome Catherine MacGregor and wish her full success in her missions. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. Significant growth is also expected in the use of renewable gases to accelerate the energy transition. And so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. She occupied a number of roles in various geographies (Republic of Congo, the US, Malaysia, ): from Director of Business Entities (Wireline, Reservoir Characterization, Drilling, ) to Regional Division (Europe and Africa). At the end of 2020, the financial net debt-to-EBITDA ratio was 2.4 times, a slight decrease compared to December 2019. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? - Play an important role in ensuring security of supply for France and Europe And then your other question was related to the organization. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. Because there was a time when that business was making around 600 million of COI. Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. We have a high performing gas fleet, as you know, which is very important in our mind to bring the flexibility to the system. The current total coupon of 100 million per year has been reduced by 28% since 2017. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. Biography [ edit] ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. And then the second question is more for Judith. The second half of 2020 showed a strong recovery after second quarter, which has which was heavily impacted by COVID. You mentioned that you would also phase out coal in district heating. Then rapidly followed: "what am I gonna use that for ? I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. Battery storage is expensive, produces no net power, has a very high LCA and basically impossible at the needed grid size. Check if your
Engie's new CEO sets out with the goal of simplifying the energy group 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. Okay. Have a nice day. We are a smaller company than Engie normally would partner with. 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? And what is your philosophy there? And then, of course, right after that, you have hydrogen. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. Please. I would love to hear from you. https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. We think its important to have a system play on renewables. Curious as to what my Linkedin connections think. We also invested in #RenewableEnergy with the acquisition of 6 GW of solar and storage capacity projects in the US and signed an MOU to develop 3 GW of #wind power in Egypt. Thank you, Catherine, and good morning, everybody. Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. So first to reiterate on that, we are very pleased with our position on renewables, and we are leader in France. And we will now take our next question from Ajay Patel with Goldman Sachs. And my second question will be more accounting related regarding EVBox. Engie has been riven in the past by fights between chairman and CEO and is a company where the board plays a big role in shaping strategy.
Parit homme-femme au sein des directions gnrales encore loin du So on EVBox, were very happy to have announced this transaction. We have a lot of experience over the years developed through our generation and thermal activity. So for my question, the first is on the asset rotation. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for 1 for 4 weeks, You will be billed 65 per month after the trial ends, Russian far-right fighter claims border stunt exposes Putins weakness, Germany seeks to buy Leopard tanks from Switzerland, Germany and Italy stall EU ban on combustion engines, Ukraine asks EU for 250,000 artillery shells a month, Russia on alert after reconnaissance group crosses over from Ukraine, Panic station at Fox News: how the Murdochs agonised over Trumps loss, Saudi owner of Londons most expensive house sued over alleged unpaid private jet bills, UK housing market braced for make-or-break spring, UK cabbage king turns to plant-based proteins, Airlines plan to sue Dutch government over Schiphol airport flight cap, There are no domestic equity investors: why companies are fleeing Londons stock market, Live news updates from March 3: Amazon pauses HQ2 construction, UK regulators launch LME probe, Deluge of inflation data pushes US borrowing costs to 2007 levels, FCA regulator blamed for Arms decision to shun London listing, Clutching Warrens letter, Im still positive on stocks. Okay. Our group remains committed to Belgium and to contributing to the countrys security of supply. is its Ocean Winds joint venture with EDPR. 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. Now that makes me and that makes the team, obviously, extremely motivated and optimistic that we are going to get the benefit from these tailwinds because, as a team, we are extremely focused in making sure that we do outperform, and outperform our peers, outperform the market. Then potentially collaborate/partner with us for less than EUR 10 m in costs, together solving the crucially important 40% of the hours of the month. We have also good fleet in Middle East and also Latin America. So we really have some really nice differentiation that we want to use in order, for sure, to be competitive but without sacrificing the return. Watch th. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. 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. Comptences clefs . Onshore wind can be 1.5 years. 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. And part of this feedstock sometimes continue to rely on coal. This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. Please go ahead. Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. 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. A very fine, humane gesture that you promised your ENGIE colleagues. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. We also suffer from the same crisis and have also contributed to this, especially in the Corona years. We will run processes. In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. Net recurring income group share was in line with guidance but at the bottom end of the range. Elle travaille pendant 23 ans chez Schlumberger. So all of the work that we started last year and that we are doing as part of this consultation is to bring these activities into a coherent entity, and this is really happening now with a commonality in terms of mtier, activity type, expertise, purpose and also industrial project.
ENGIE - Catherine MacGregor, Chief Executive Officer of ENGIE from 1 Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. Let me now move to a detailed view per business line. Included within this guidance is an estimated impact that follows the extreme cold weather in Texas earlier this month. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. But when you think about where that green hydrogen will be produced and where it will be consumed, the fact that we have infrastructure to transport this hydrogen, potentially to store this hydrogen will play to our strength. We have in the U.S. the largest development pipeline. 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. But we really want to focus on a return-based growth strategy. We use cookies in a variety of ways to improve your experience, such as keeping NHST websites reliable and secure, personalising content and ads and to analyse how our sites are being used. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. Is it something that you will tell us more about in May? Estabelece ainda cotas 50+ proporcionais a populao para preenchimento de vagas no setor pblico. Yes. This was mainly due to impairments, especially related to our nuclear reactors.
Biography of Catherine MacGregor - The Official Board But in short, we have big ambition, but we will be disciplined. 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.