You may now disconnect. La diversit en actions - Interview de Catherine MacGregor, directrice 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. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. Let me now hand you over to Judith to cover our financial overview, and I will come back on strategic priorities. Obviously, you did signal that youd be ramping up CapEx. Strong management actions allowed us to variablize and reduce total OpEx by approximately 300 million. Keep abreast of significant corporate, financial and political developments around the world. We expect EBITDA to be in the 9.9 billion to 10.3 billion range, COI to be in the 5.2 billion to 5.6 billion range, and net recurring income group share to be in the 2.3 billion to 2.5 billion range. 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. or And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. Her vision on ENGIEs transformation and development, her industrial and international track record as well as her leadership and managerial skills will fully contribute to the achievement of the strategic orientations announced at the end of July. [Operator Instructions] We will take our first question from James Brand with Deutsche Bank. , Dear Catherine, This was mainly due to impairments, especially related to our nuclear reactors. offers FT membership to read for free. But the idea is that for the big production projects, we will give the Thermal people and the Thermal team, the responsibility to run those hydrogen production plans and projects because some of the skills are actually quite similar. 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. 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? For a full comparison of Standard and Premium Digital, click here. But is it bad? I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. This has been a concern for the market. 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. We had 1.2 billion total impact last year. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. In terms of geography, we have a strong hold in Europe. [Foreign Language]. On your two questions, 1 was on the tax rate. And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. CEO Affiliation Engie Country France 2020 Rank 13 In her first year as CEO of the giant French power company, MacGregor, an oil and gas industry veteran, focused on simplifying the $63.5. And so we will not give specific assets, of course, at any given time. Were very pleased. 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. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. Engie appoints oil services executive to execute new renewables strategy Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. Depending on opportunities, it could be this asset or another one. Revenue declined on a gross basis by approximately 900 million for the full year. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line, Glad to see all the progress Engie is doing in becoming a renewable leader. 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. Indeed, you can expect positive cash flow operation from our nuclear activities. So this is becoming real. Very yes, good question. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. We also continued to benefit from the cost actions launched in the second quarter. In 2020, most of our newly commissioned assets were onshore wind followed by solar. We invested 7.7 billion of CapEx in total. Now simplification is a bit of a general concept, and I was hoping for a bit more color from your part. This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. #solvaylife #futureemployees #career #mockinterviews, Bringing some sun and fun to the Solvay Alpharetta site in February, employees and friends enjoyed an Hawaiian themed luau complete with ukulele music from Jason Chung and Ryan Carey. Yes, its hard to give any precise guidelines on that because, of course, it depends on the M&A and greenfield mix, and it depends on the type of projects that youre after. 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. Following the launch of the new strategic orientation in July, ENGIE completed the disposal of its 29.9% shareholding in SUEZ in October. Its were rounding numbers here, as you can see, because like I said, this is our target. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. Then rapidly followed: "what am I gonna use that for ? So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. And the second one, if I may ask, around Client Solutions. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. The peer groups done very well. Live from New York and. Watch th. Does this mean that Equans is now getting nothing? That will put pressure on Ms MacGregor to make her mark . French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. 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. We have a very nice digital platform to help us manage our assets better. Engie board set to appoint Catherine MacGregor as new CEO I will now hand you back to Catherine for our 2021 priorities. 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. In DHC networks, the worldwide market is expected to grow over 5% per year on average across the next nine the next five years. The reversal of a positive internal one-off from the fourth quarter of 2019 offset in supply as well as the first effect of the RAB remuneration rate decreases also contributed to this lower COI in France. You can read more about how we handle your information in our privacy policy. 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. As CEO of ENGIE, I am particularly proud of what we have achieved with our teams. We have a team of about 300 developers who are really good at what they do. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. and other data for a number of reasons, such as keeping FT Sites reliable and secure, ENGIE has developed a strong platform in Client Solutions from which we can tap into the growth in this space. 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. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. So in short obviously, its a topic we could talk for hours. I think there was another question, which was related to the calendar. Now turning to Networks. 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. Thank you Renata Spada for being yourself and authentic. The current total coupon of 100 million per year has been reduced by 28% since 2017. Read more about DN Media Group here. Compare Standard and Premium Digital here. Thank you, Emmanuel, for your questions. Holidays ? Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. PDF CATHERINE MACGREGOR Chief Executive Officer - Engie The enshittification of apps is real. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. 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. Indeed, we had an increase a temporary increase in 2020 to 32.5%. And if so, what quantity? On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. 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. The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. analyse how our Sites are used. I look forward to continuing to work closely with our brothers in Azerbaijan, and our partners across Europe and around the world, to deliver on our shared clean energy ambitions. But is it bad? *Criao da poltica nacional de incluso das pessoas 50+ no mercado de trabalho* 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. Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. January 7, 2021. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. Yes. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. 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. Areas of expertise ; 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! #buckminsterfuller #trimtab #climatechange. Regarding the organizational simplification, you mentioned complexity of the group. She was in charge of the entitys IPO. So again, of course, I mean, it 2020 was heavily impacted. 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. Judith, you want to start with the EVBox question? All options considered for Engie's services business sale-CEO As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! When expanded it provides a list of search options that will switch the search inputs to match the current selection. So if we have opportunities, which, from an energy transition makes sense, because, for example, they would replace coal or even worst, fuel assets and bring a solution of flexibility to the system is something that we might consider. or hosting the engineering activities. We have a new business organization and leadership team who is focused on performance, and weve committed to executing our strategy to accelerating the group growth and to strengthening our commitment to the energy transition. 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. How old is Ms MacGregor? And we will now take a last question from Louis Boujard with ODDO. is its Ocean Winds joint venture with EDPR. And Judith? Net recurring income group share was within the guidance range, and Judith will cover financial performance in more detail shortly. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. 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. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. Weve proven that over and over again in very, very recent past. So its a huge project. You mentioned the COVID impact and how to think about it in 2021. In other geographies, we benefited from commissioning new capacity in the United States and from higher wind production. We have a strong position in Brazil, in Peru, in Chile. Within this guidance, we have included our current estimate of the potential impact. It seems to be the trend last few questions. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. 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. And second, its really focused and making sure that everybody pulls in the same direction. 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? Weve seen peers in renewables showing a bit of a lack thereof of investment discipline, among other thing, the auction in UK offshore. Net income group share stood at negative 1.5 billion. Lets now move to our Supply, Nuclear and Other activities. We are a smaller company than Engie normally would partner with. 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? In that entity that we are forming, which is the object of the consultation weve talked about, there will be 34,000 roughly 74,000, sorry, 74,000 people. French energy group Engie's ENGIE.PA board is set to appoint Catherine MacGregor, a top executive at Franco-American oil services firm TechnipFMC FTI.N as CEO, eight months after the ouster of Isabelle Kocher, a source familiar with the situation told Reuters. Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. cookies Sure. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. Let me give you the 2020 COI highlights. And so the amount will be much lower than what you have seen in 2020. 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 On 14th of January, I announced a new executive committee, and Im very pleased that Paulo, Edouard, Ccile and Sbastien have started their new business roles. 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. And the second one is very bad timing. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. I wish to thank Paulo Almirante, Judith Hartmann and Claire Waysand who will continue to serve as the interim management team until January 1st., I would like to thank the Board of Directors for the confidence it shows in me. What an insightful stay in India this week starting with a technical conference on #hydrogen #certification at #IndiaEnergyWeek then meetings with 7 industrial players developing hydrogen projects across #India. And moving now to our international networks, where we are leveraging the deep networks experience we have in Europe. fusion, COVID weighed particularly heavily on Client Solutions and on Supply. Euro erzielen. - Accompany our customers in their decarbonization strategies to face the climate emergency 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. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. 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. Two questions from me. What is the identity of the Thermal business? Let me now focus on the evolution of net debt and on our leverage ratios. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. Catherine MacGregor - Biography Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. So our main working scenario right now is that it wont happen. And first question is for Catherine MacGregor. 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. In Nuclear, we expect contribution to increase as volumes should be higher, thanks to better availability. Previous to these positions, she has worked 23 years at Schlumberger, the world's leading provider of reservoir characterization, drilling, production and processing technologies for the oil and gas industry. 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. PDF CATHERINE MACGREGOR Directrice Gnrale - Engie So let me start then with your question on Thermal. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. #beyou #beunique #beunited ENGIE Africa (Tech. Thats a good clarification. 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.. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. Siga o link abaixo e deixe seu apoio a esta poltica de incluso necessria ao nosso pas. 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. So for my question, the first is on the asset rotation. Head of Core Laboratories US - Alpharetta Site Manager, Thanks to Solvay Alpharetta employees Michael O'Keeffe and Edna Carbajal for reaching out to students in Dawson county GA for their junior high school career fair and mock interview days. But that brings me to my question actually. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? Overall, we have 100 cooling networks with a total installed capacity of 6.1 gigawatts and 300 heating networks of various sizes that distribute 19 terawatt hours yearly. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. On the other hand, we, obviously, want stability in a power system. And so the number that I quoted, which was the injection that we did last year, you start to see that it becomes meaningful. And then the second one, its for Catherine. And so were keeping 40%. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. Est 53 centrales nuclaires qui vous donnent l'lectricit la moins chre au monde, Its, for sure, a large part of the investment case. 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! personalising content and ads, providing social media features and to Current positions of Catherine MacGregor Obviously, we have made the decision to exit the coal, which is run under Thermal. How quickly can that new CapEx sort of translate into earnings? And Im going to pass it on to Judith now for the COI details on Renewables. Ill start maybe with, again, the second one on renewables. 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. 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 so we have assumed a very strong recovery like we have seen it in the second half. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. Are you working on a new organizational format? Parit homme-femme au sein des directions gnrales encore loin du Price is going up. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. The biggest, of course, remains Renewables. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. CFFO was 7.1 billion in 2020, down 500 million versus 2019, mainly driven by the following effects. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Katherine MacGregor - Wikipedia Laut Konzernchefin Catherine MacGregor werde man im laufenden Geschftsjahr 2023 einen Gewinn zwischen 3,4 und 4 Mrd. Delivering on decarbonization while ensuring reliability and affordability can only be achieved through a combination of centralized and decentralized solution and with a mix of energy sources. At the event, we were pleased to highlight how #Masdar is working with our partners in Azerbaijan to develop world-class clean energy projects like the 230 MW Garadagh Solar PV Plant, with further agreements to develop up to 10GW of clean energy capacity across #onshorewind, #offshorewind, #solar, and #greenhydrogen projects. 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. So yes. In other words, direct stable energy is needed these hours.
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