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Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. 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. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. 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 chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. 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. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. And so were excited about this transaction. 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. Two questions from me. Tout au long de cette priode, les quipes d'Elengy, Storengy - ENGIE, GRTgaz, GRDF Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de gaz a baiss de 6,2% en France en . You mentioned the COVID impact and how to think about it in 2021. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. Judith, you want to start with the EVBox question? You may now disconnect. 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. Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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? Good morning, everyone. 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. You can see that on the recent months trading for renewable players. Catherine MacGregor - Forbes We will now take our next question from Sam Arie with Union Bank of Switzerland. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. Notre lectricit est dj propre Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. And I was very pleased to hear that you put simplification at the center of your new vision for the group. 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. And then, of course, in terms of Thermal, we will be very opportunistic. Yes. Or is it your budget of the COI for these businesses in 2021? 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. Watch th. So Ill ask two questions. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. Very yes, good question. And Im sure thats a question youve been reflecting on as you took up the new role. Let me now move to a detailed view per business line. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. And while were not going to grow it at the same rate as Renewables and Networks, we will be opportunistic in managing this fleet. According to the IEAs latest sustainable development scenario, in Europe alone, energy from biomethane and hydrogen could potentially grow three times from 2019 levels to over 300 terawatt hours in 2030. Now the markets are looking at the remaining energy services. Catherine MacGregor - Biography First of all, I think you are highlighting through your question the fact that we have, at ENGIE, significant tailwinds, tailwinds that some of our peers have enjoyed and we havent. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. For example, we significantly enhanced our renewables footprint in the U.S. Were going to really focus on a few geographies. organisation So maybe I will start with your last question, which is around the decision on nuclear. 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. Catherine MacGregor Wikipdia Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . Check if your I think, as you pointed out, theres been a little bit of a race to gigawatts. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. This is value neutral over time as D&A is integrated in the regulated revenue. This was notably due to the discounting of liabilities related to hydro concessions in Brazil that are indexed to inflation and which increased significantly in 2020. Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. 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. And the second one is very bad timing. The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. You can store it. It honors and commits me. You mentioned diversity of vast diversity of business line, et cetera. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. 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. But ENGIE shares have gone, lets say, sort of sideways and even down a bit in that time. You certainly have a lot of people out here who want you to be very successful. Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. Catherine MacGregor Net Worth (2022) | wallmine Dans intrt de la France, Significant growth is also expected in the use of renewable gases to accelerate the energy transition. Turning to our major focus areas starting with Renewables. So its a huge project. One was the CapEx. 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. 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. Laut Konzernchefin Catherine MacGregor werde man im laufenden Geschftsjahr 2023 einen Gewinn zwischen 3,4 und 4 Mrd. 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. 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. Theyre going into similar areas with Networks is an important aspect. 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. Il serait pertinent de se concentrer sur l'aprs nuclaire, But is it bad? So no impact there, of course, on G&A reduction and about 800 million of assets. 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. 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. We want to develop and further our differentiation. 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. I think these are really, really good questions. Engie's new CEO sets out with the goal of simplifying the energy group The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. currently to 4 GW p.a. This higher tax rate included notably the adjustment of carrying value of some deferred tax assets and the one-off effect of the tax rate change in the UK. I am very pleased that Jrme Stubler, who has more than 30 years' experience in the construction industry, joined us recently and will be leading this important project. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. CEO - Engie. And what is your philosophy there? 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. modifier - modifier le code - modifier Wikidata. 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. 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. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. There is a very, very strong will power within the team to do that. We had 1.2 billion total impact last year. 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. And so were confident to be able to invest in lots of opportunities that Catherine talked about. Simply log into Settings & Account and select "Cancel" on the right-hand side. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. Lemjed Bouzekri Thuli MOLOTO Bhupendra Singh Francisca Iturrieta Amadori Berivan Szgn, So pleased that people liked my post on trim tabs. Catherine Fiamma MacGregor is an Influencer, https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future, https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. New organizational structure for a simpler ENGIE to go live on July 1 So let me start then with your question on Thermal. What you would be looking for? Tax charges were 300 million lower mainly due to the decrease in profit. For a full comparison of Standard and Premium Digital, click here. We have in the U.S. the largest development pipeline. A short stay for a rich experience and deep learning. We have made the decision to stop the work to prepare for this such an extension. Im Aarti Singhal, Director of Investor Relations at ENGIE, and welcome to our 2020 annual results conference call. The Board of Directors announces the appointment of Catherine MacGregor Sign up for more in-depth articles and insights. Now the 2021 guidance. She has spent her entire career in the energy sector. Engie names Catherine MacGregor as new CEO - Offshore Energy So I thought, on this occasion, it would be great if you could take a few minutes just to share with us sort of your perspective on why the last few years have been so difficult for ENGIE, why the 2016 asset rotation plan didnt really deliver in the end and why the current asset rotation plan may be more successful. We will make sure that we get the right price. 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. 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). And thats really the key part of what we do. Engie - Franzsischer Energieversorger berzeugt uro am Sonntag" mit And on gender diversity, we maintained 24% women in management of the group, and this must continue to be an area of focus for us in the coming years. Let me give you the 2020 COI highlights. This very unusual year translated into a mixed set of numbers. Premium access for businesses and educational institutions. 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. And Im going to pass it on to Judith to comment maybe on the other questions. We think its important to have a system play on renewables. Ms MacGregor is 48, she's been the Chief Exec. For cost savings, you can change your plan at any time online in the Settings & Account section. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. As a leader in gas networks, we are playing a critical role in enabling an affordable and smooth energy transition, and we are promoting a progressive increase in the role of renewable gases. I would love to hear from you. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. Selbst im Worst-Case-Szenario komme Engie dann auf eine Bewertung mit einem KGV von rund 10. Obviously, you did signal that youd be ramping up CapEx. And Judith, you want to comment, please, on the impairment? These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. Therefore, we do continue that we do think that gas will continue to play a very key role. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." It will also require some infrastructure, maybe not with the same density at todays gas network. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. 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. On your two questions, 1 was on the tax rate. Katherine MacGregor - Wikipedia Are you talking about Q3, Q4 for the end game? Recharge is part of DN Media Group. 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. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. 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. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. 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 . So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. And given that theyre contracted, to maybe accelerate other areas of the business? We delivered for our customers while continuing to invest in major capital projects. Catherine MacGregor: The winds of change - Leaders League And yes, let me start by saying also welcome and wishing you success in the new role. So naturally, were landing more just below a 100 million figure for 2021. Officer of ENGIE SA since . And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. Lets now move to Thermal, which was impacted by scope and FX, notably, 90 million of disposals mainly in Thailand and close to 40 million negative FX impact. And I think the way I want to say this is I think we know the broad plan now for the business, but I think its also important to look back at the last 5 years and understand why essentially the investment thesis has not delivered so far for shareholders. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. Euro erzielen. A cycle, of course, could be 3, 4, 5 years depending on the country. How quickly can that new CapEx sort of translate into earnings? Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. In terms of geography, we have a strong hold in Europe. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. Thats a good clarification. Thank you very much, Aarti, and good morning, everyone. By Gwnalle Barzic and Geert De Clercq. 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. 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. 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. So I think this is a key point Id be interested in. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. We have a French-regulated asset base of 28 billion, which makes us one of Europes largest gas network operators and a growing footprint in networks internationally.