If we basically look at simplification, we could cut it in two parts, what I would call transactional simplification, disposals buyout of minorities on maybe organizational simplification. We are a smaller company than Engie normally would partner with. 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. 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. The biggest, of course, remains Renewables. 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. Holidays ? The final area of 2020 performance I would like to highlight is the groups continued progress in growing our renewable portfolio, which has grown significantly by 32% since the end of 2018. Net recurring income group share was within the guidance range, and Judith will cover financial performance in more detail shortly. But is it bad? Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. #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. 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. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. 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. We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. We had 1.2 billion total impact last year. By Gwnalle Barzic and Geert De Clercq. On your two questions, 1 was on the tax rate. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. Weve proven that over and over again in very, very recent past. We also continued our relentless pursuit of simplifying the group. I think there was another question, which was related to the calendar. Very yes, good question. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. 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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. Because there was a time when that business was making around 600 million of COI. Ms MacGregor is 48, she's been the Chief Exec. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. So on EVBox, were very happy to have announced this transaction. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. [1] She started her career on stage in New York City, in theatres off and on Broadway, credited as Scottie MacGregor . No, absolutely. 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. Check if your De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. So without going into any specific, youre right to say that it does contribute to the simplification efforts. #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. 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. 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). 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. 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 want to develop and further our differentiation. We will now take our next question from Peter Bisztyga with Bank of America. Its two and probably a little bit more early. And also, is there any possibility to reverse the decision on the Belgium life extension should the Belgium government change its stance this year? Aprs avoir t auditionne par les cabinets de recrutement Korn Ferry et NB Lemercier & Associs, elle est nomme directrice gnrale d'Engie le 2 octobre 2020, avec entre en fonctions le 1er janvier 2021. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. 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? , Dear Catherine, It seems to be the trend last few questions. 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. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. We also benefited from higher contributions of GTT thanks to a strong past order intake. 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. Catherine was President of Technip Energies at TechnipFMC, and President of Drilling at Schlumberger. A short stay for a rich experience and deep learning. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. 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. As always, my team and I are here to assist you, so do please reach out. So there will be a capital gain on this. . Net income group share stood at negative 1.5 billion. The oldest executive at ENGIE SA is Francoise Malrieu, 73, who is the Independent Director. Let me now focus on the evolution of net debt and on our leverage ratios. 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. 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. 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. Thank you very much, James, for your question. We delivered for our customers while continuing to invest in major capital projects. Elle a t leve au Maroc[1]. Welcome to the sector, indeed. French Networks had limited COVID impact also mainly on distributed gas volumes. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. Turning to an update on the strategic review of part of our Client Solutions business that was launched in the second half of last year. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Elle travaille pendant 23 ans chez Schlumberger. And then the second question is more for Judith. Carbon neutrality is at the heart of ENGIEs purpose and central to our strategic direction. So hopefully, this helps. We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. The COVID impact on our thermal activities was minimal with lower demand mainly in Chile and Peru. So no impact there, of course, on G&A reduction and about 800 million of assets. But that brings me to my question actually. Catherine MacGregor est elle-mme mre de deux filles 2 . I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. 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. So thats one aspect of it. 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 . For cost savings, you can change your plan at any time online in the Settings & Account section. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. 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? Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. On quick one on numbers, on guidance. So in terms of creating an entity as part of our strategic review of Client Solutions, one of the things that is important to understand about this business is that it has grown within ENGIE as a series of acquisition and local development and so today, dont quite belong into a coherent entity and is not led as an independent or well-defined part of ENGIE. Sure. Live from New York and. And I think, namely complexity is one thing. And as in the past, we will be very mindful of timing. And I was interested to get your philosophy about minorities. And thank you, Catherine, too, for your answer, which I think we all appreciate, and we wish you with that, just final comment from my side, then Ill turn it over. Pay my electricity bill of next year. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. Together, let's continue to make a difference! Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. We also posted higher financial costs. Turning to our major focus areas starting with Renewables. 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. I was happy to see so many enjoying each others company. You can read more about how we handle your information in our privacy policy. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. 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. So for my question, the first is on the asset rotation. Ladies and gentlemen, this concludes this conference call. Depending on opportunities, it could be this asset or another one. And then, of course, right after that, you have hydrogen. Judith, you want to start with the EVBox question? And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. To read more about DN Media Group, Were very pleased. 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. Dans intrt de la France, 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. Yes. Yes. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. And then the second one, its for Catherine. And so from a financial impact standpoint, unlikely to be a 2021 story. 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. Its the first step. 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? We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. How quickly can that new CapEx sort of translate into earnings? So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. Yes, Judith, just to follow up on the Nuclear, can I just ask setting aside the provisions and the cash payments against those which we know about, can I just ask, do you anticipate any positive free cash flow from the nuclear fleet now in the rest of its life, I mean, if you just look at operating cash flow and essentially operating CapEx that youve got to put in? Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. 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 . Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. 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. So yes, Thermal is a good fleet for us, good asset. 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. One was the CapEx. What you would be looking for? EBITDA and COI were both down significantly from last year mainly due to the impact of the pandemic.
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