We also posted higher financial costs. 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. The first is on the Supply business. Thank you very much, Judith. 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. In France, we continued to invest into the gas smart meters rollout. Pour les articles homonymes, voir MacGregor. Turning to our major focus areas starting with Renewables. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. Thank you, Sam, for your welcome message and your welcome question. And weve announced that there might be a second step, but we will obviously cross that bridge when it comes to it. And so were confident to be able to invest in lots of opportunities that Catherine talked about. Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de Elle travaille pendant 23 ans chez Schlumberger. Every Friday at a quarter past 10, the fire alarm. 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. And if so, what quantity? So again, of course, I mean, it 2020 was heavily impacted. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. We currently have leadership positions in all of these activities, and recent successes include a 30-year contract signed in Monaco to design, build, own and operate a seawater heating and cooling network that will enhance energy efficiency. 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, the companys statement reads. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. 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. https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. But ENGIE shares have gone, lets say, sort of sideways and even down a bit in that time. But really appreciate, thanks again ! Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. 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 . But where should we be hoping that Supply COI gets back to either this year or perhaps over the medium term? Im Aarti Singhal, Director of Investor Relations at ENGIE, and welcome to our 2020 annual results conference call. Obviously, well give you more color on our ambition on renewables in May. We are a smaller company than Engie normally would partner with. Its been a period in which the sector was exceptionally strong. You can still enjoy your subscription until the end of your current billing period. - Play an important role in ensuring security of supply for France and Europe So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. click here. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. 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 So without going into any specific, youre right to say that it does contribute to the simplification efforts. You may change or cancel your subscription or trial at any time online. 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. Aged 48 and an engineering graduate of cole Centrale Paris, Catherine MacGregor started her career at Schlumberger in 1995, where she spent 23 years in positions of international responsibility, notably as group HR director. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. 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. Catherine MacGregor Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! 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. Now turning to Networks. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. And in terms of the supply, were really expecting supply to recover mainly from less COVID impacts, also looking at the temperature, which will improve. 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. So its a huge project. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. Okay. 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. 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. Regarding the organizational simplification, you mentioned complexity of the group. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. Revenue declined on a gross basis by approximately 900 million for the full year. Un article de Wikipdia, l'encyclopdie libre. We think, in general, gas is going to be important in this energy transition. 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 the 150 million I gave is correct. Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. Engie boosts asset sales as it targets 'doing less stuff' Good morning, everyone. Estabelece ainda cotas 50+ proporcionais a populao para preenchimento de vagas no setor pblico. Live from New York and. I have a couple of questions, 1 for Catherine and 1 for Judith. COI decreased mainly driven by a 600 million impact from the pandemic. So let me start then with your question on Thermal. There are 25 older and 1 younger executives at ENGIE SA. When I think of hydrogen for ENGIE, I think all of our activities, all of our mtier benefit. You can update your choices at any time in your settings. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. Holidays ? We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. You certainly have a lot of people out here who want you to be very successful. 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. 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. I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. (Tech. This included 1.7 gigawatt of hydro plants in Portugal, which benefit from long-term concession arrangements. For example, last year, 91 additional biomethane production units were connected to the French gas grids, and over 85% of these were connected to GRDF. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. Our near-term priority in the region is to commission two major electricity transmission projects. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. Posted mercredi, avril 14 2021 Last month, with her feet barely under the desk, Catherine MacGregor was required to appear before the French senate's economic affairs committee be grilled on Engie's strategy. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. 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. Now its a little bit difficult for me to really be critical about the past. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. 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. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. Could you clarify how much COVID impact youve included in 2021 relative to the 1.2 billion hit in 2020? And one of the things to keep in mind, when you say how can you speed up is also that we have less sell downs in Renewables in 2021. Problem: 40% of the hours of the month there is minimum wind and zero sun. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. 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. Areas of expertise ; Its going to take us some time. The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. CEO - Engie. Therefore, we do continue that we do think that gas will continue to play a very key role. It honors and commits me. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. What is the identity of the Thermal business? 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. And as you might have noticed that lately, we have not really entered the race of enhancement of gigawatt. So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. And how quickly do you think it can actually contribute to your earnings, please? Overall, these positive factors are expected to more than offset year-on-year negative evolutions. or As CEO of ENGIE, I am particularly proud of what we have achieved with our teams. Katherine MacGregor - Biography We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. And so to in that respect, I think your comment might be valid. 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? 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. De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. In addition, the extension of fair value accounting to a European gas contract and its related assets also led to a net impairment of 500 million. 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. Judith, you want to start with the EVBox question? Together, these drivers helped to more than offset negative foreign exchange in Brazil, Mexico and Argentina. commentary and analysis you can trust. 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. As CEO, Catherine MacGregor will focus on defining and implementing the Group's strategic road map, in particular around the two priority areas announced in July 2020 by the Board of Directors: speeding up growth in renewable energies and energy infrastructure such as cooling and heating networks. On an organic basis, the business line saw 1% growth, which was a strong result considering that there were over 100 million of positive operational one-offs in 2019 from LDs on newly commissioned power plants in Brazil and Chile. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. And maybe Ill just say a few things, and Ill pass on to Judith, just to say that the Client Solutions project is a big project. Keep abreast of significant corporate, financial and political developments around the world. And that will be something that we will be describing a bit more in details in May. So 25% of your business is in Thermal, and its an area that youre not particularly resting hugely behind if you look at the growth CapEx numbers. Weve proven that over and over again in very, very recent past. Within this guidance, we have included our current estimate of the potential impact. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. Overall, we currently estimate a potential net impact at the group COI and net recurring income group share level of between 80 million to 120 million. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. 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. At the end of 2020, the financial net debt-to-EBITDA ratio was 2.4 times, a slight decrease compared to December 2019. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. 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. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. The enshittification of apps is real. Is this happening to you frequently? She has spent her entire career in the energy sector. Are you working on a new organizational format? I guess, whats the kind of your average period of sort of non-productive capital work in progress? Precisamos de 20.000 apoios para que a ideia se transforme em lei. Here's a bit more, on climate change and from a few years ago, but still relevant. In Thermal, we expect a COI decrease due to the normalization of a strong 2020 performance in Europe, which was supported by high spark spreads and ancillary contributions. Engie board set to appoint Catherine MacGregor as new CEO 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 obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. Organically, these evolutions were slightly better. So to summarize, ENGIE made progress at pace in 2020. Est 53 centrales nuclaires qui vous donnent l'lectricit la moins chre au monde, And first question is for Catherine MacGregor. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Also from my side, Catherine, a very warm welcome to the sector and wishing you all the best. We will make sure that we get the right price. And I just wanted maybe to clarify that the government has not explicitly made the decision. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. offers FT membership to read for free. Now the markets are looking at the remaining energy services. 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. 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. Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. So maybe I will start with your last question, which is around the decision on nuclear. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. https://waves-energy.co/maps/. You mentioned diversity of vast diversity of business line, et cetera. Net recurring income group share was within the guidance range, and Judith will cover financial performance in more detail shortly. #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). Or is it your budget of the COI for these businesses in 2021? A warm welcome as well to you, Catherine MacGregor. 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. Operator? Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. Engie appoints oil services executive to execute new renewables strategy The second half showed a clear recovery with less stringent confinement measures but also with improved processes and protective equipment for our teams. But is it bad? Check if your To read more about DN Media Group, 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. The COVID impact on our thermal activities was minimal with lower demand mainly in Chile and Peru. The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. 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. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. and other data for a number of reasons, such as keeping FT Sites reliable and secure, We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. It is a great source, among others, of motivation and satisfaction to continue the (so essential) low-caborn transition in an extremely challenging environment , | Financial Reporting |Taxation| Month, Year-end Closings |Corporate Accounting| Financial Statement Analysis| SAP Hana FICO |IFRS. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. Thank you, Emmanuel, for your questions. So we feel very good about [indiscernible]. Pay my electricity bill of next year. If we look at the long term, weve got an average of 20% of minority as part of group net income with large minority stakes in Latam, for instance. Catherine MacGregor | 2020 Most Powerful Women International And then the last thing I would want to mention, too, is on the positive side of this decision, is this will help us reallocate some earmarked, lets say, CapEx into, again, our growth opportunities in Renewables and in Networks. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, Its a geography refocus. 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. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. The first one is on strategy. [Operator Instructions] We will take our first question from James Brand with Deutsche Bank. 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. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. Let me know below These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. And Judith, you want to comment, please, on the impairment? 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. 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. In emerging markets, the importance of gas is driven not just by economic growth but also by reducing exposure to higher emitting sources such as coal. 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. ENGIE has developed a strong platform in Client Solutions from which we can tap into the growth in this space. Net recurring income group share was in line with guidance but at the bottom end of the range. You can read more about how we handle your information in our privacy policy. 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. Congratulations to all of our employees on the well-deserved bonus. We have in the U.S. the largest development pipeline. 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. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. Okay. Engie's new CEO sets out with the goal of simplifying the energy group This button displays the currently selected search type. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. So and then maybe Ill add that there is also, I think, a lot of things we can do and we are doing, and we will continue to do and even increase around industrialization, procurement, supply chain, of course, digital. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. La dernire modification de cette page a t faite le 22 fvrier 2023 19:40. 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? 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. We also continued our relentless pursuit of simplifying the group. So Paulo, Ccile, Edouard and Sbastien will be obviously leading this organization effort, which I very, very much look forward to, indeed, seeing simplified over the coming months. Our portfolio of wind and solar assets has an average age of five years with an average residual contract duration of 15 years, which offers us with good visibility of earnings. 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. Let me now move to a detailed view per business line. We delivered for our customers while continuing to invest in major capital projects. I think there was another question, which was related to the calendar. Compare Standard and Premium Digital here. In other words, direct stable energy is needed these hours. Its coal exits. I want to take advantage also to clarify on a question that I was asked earlier on the nuclear impairments and the impact on D&A. So thank you very much, and bye-bye. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. With respect to the recent extreme weather events in Texas, we are assessing the situation. Katherine MacGregor - Wikipedia ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ET, Aarti Singhal Director of Investor Relations, Catherine MacGregor Chief Executive Officer, Judith Hartmann Chief Financial Officer.
Ww2 Kinfolks Fighting Knife, Fitness Marshall Lawsuit 2020, Sentry Senior Vs Centrum Silver, Quizlet Lpn Pharmacology Long Term Care A V1, Articles C