catherine macgregor engie bio
And then just another one on guidance. You have, of course, in mind, that we have committed to fund our waste provision until 2025. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? The biggest, of course, remains Renewables. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. And first question is for Catherine MacGregor. The peer groups done very well. We have not seen prices like this in many years. 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. 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. https://waves-energy.co/maps/. This really has two reasons. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. Thank you very much, Judith. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. This button displays the currently selected search type. 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? 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. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. And I just wanted maybe to clarify that the government has not explicitly made the decision. This is what I am committed to. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. We support credit card, debit card and PayPal payments. And then your other question was related to the organization. To read more about DN Media Group, Strategy: we have made progress in the execution of our plan to build a stronger and more unified Group, on the offensive to accelerate the energy transition. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . Now its a little bit difficult for me to really be critical about the past. With our strong local presence in key geographies and leading capabilities across the power generation value chain, including in energy management, which is a key for commercializing renewable energy, we are confident in our ability to drive long-term value creation from this renewables growth. All information you need to have a pleasant time during the event. Does this mean that Equans is now getting nothing? So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. Let me start with your second question, and then I will hand over to Judith, who will go through the details of the impairment impact, if you dont mind, Rob. So I would like to hear your opinion, how maybe your story might be slightly different from electric renewables players, how we maybe think about the gas network as a funding option for the renewables growth. And the second one, if I may ask, around Client Solutions. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. We are assessing the situation, which mainly affects renewables and supply activities. In 2021, we already have hedged 80% of the production at 46. 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. First, you will hear from our new CEO, Catherine MacGregor, on the highlights of 2020, followed by our CFO, Judith Hartmann, on our financial performance. And thats really the key part of what we do. Following which, as usual, well open the lines for Q&A. 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. 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. Our environment is changing. Catherine MacGregor - Forbes Because there was a time when that business was making around 600 million of COI. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. So really, in summary, three elements: complexity, sharper capital allocation, everybody pulling in the same direction and performance culture are three important elements, I think, that are going to make a difference and allow ENGIE, indeed, to strive in those strong tailwinds that continue to be there for us. - Play an important role in ensuring security of supply for France and Europe #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. analyse how our Sites are used. EBITDA and COI were both down significantly from last year mainly due to the impact of the pandemic. 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. Curious as to what my Linkedin connections think. She is the only female CEO in France's CAC-40 stock index; French Finance Minister Bruno. Elle travaille pendant 23 ans chez Schlumberger. Enel nearly tripled, Orsted quadrupled. And given that theyre contracted, to maybe accelerate other areas of the business? And so we are working really hard on these networks to find alternatives to use preferably renewables, things like biomass for example. Also on the same point, risking up or risking down in the future strategy, what is your view on how the risk profile for ENGIE should change going forward? Maybe some thoughts. [indiscernible] Sam, for putting more pressure on us. You can see that on the recent months trading for renewable players. Although we were in crisis management most of 2020, we did not lose focus on our long-term objectives and continued to invest for the future. The ability to manage risk, we see mature risk increasing in the renewable arena, and we are really good at that. We invested 7.7 billion of CapEx in total. Watch th. Okay. These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. And the second one is very bad timing. I guess, whats the kind of your average period of sort of non-productive capital work in progress? Yes. So Ill ask two questions. 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. And so the amount will be much lower than what you have seen in 2020. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. So thats a positive. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. About Catherine MacGregor MacGregor became the CEO of French energy company Engie in January 2021. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! Its the first step. And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. One was the CapEx. And so we will not give specific assets, of course, at any given time. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. And Judith? 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. A very fine, humane gesture that you promised your ENGIE colleagues. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. Theyre going into similar areas with Networks is an important aspect. 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. 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. Elle est ingnieur, diplme de l' cole centrale Paris, dont elle sort en 1995. La dernire modification de cette page a t faite le 22 fvrier 2023 19:40. Thank you. MacGregor said: I would like to thank the board of directors for the confidence it shows in me. And the answer is yes. Pour viter se gchis financier avec l'argent des franais More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. And also, is there any possibility to reverse the decision on the Belgium life extension should the Belgium government change its stance this year? #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). Carbon neutrality is at the heart of ENGIEs purpose and central to our strategic direction. Catherine MacGregor Wikipdia Very yes, good question. And we will now take our next question from Vincent Ayral with JPMorgan. Its were rounding numbers here, as you can see, because like I said, this is our target. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. And second, its really focused and making sure that everybody pulls in the same direction. And so our thermal fleet has a very, very important role to play there. No, thank you. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. Energy Solutions: we won major contracts in district heating and cooling networks but also in #greenmobility, notably with 5600 charging points for electric vehicles in Belgium This was due to higher contributions from entities with minorities, which fully contributed at EBITDA and COI levels but only contributed at share at net recurring income group share level. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Please go ahead. We have progressed on simplifying the group. We also benefited from higher contributions of GTT thanks to a strong past order intake. Altogether, these units can contribute to a yearly production of up to 3.9 terawatt hours, equating to the annual gas consumption for hitting approximately one million new build homes in France. 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. Ow, nobetter ! Yes. 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. And weve made some moves last year, and we will continue to do that. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. 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. We have a team of about 300 developers who are really good at what they do. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. 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. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. 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. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. So on EVBox, were very happy to have announced this transaction. I'm looking forward to continuing to make a difference together. 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. Engie appoints oil services executive to execute new renewables strategy 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. Excellent example of circular economy ! Congratulations to all of our employees on the well-deserved bonus. The Board has reaffirmed the groups dividend policy and proposed for 2020 a payout ratio of 75%, which is at the top end of the range. Precisamos de 20.000 apoios para que a ideia se transforme em lei. analyse how our Sites are used. The COVID impact on our thermal activities was minimal with lower demand mainly in Chile and Peru. Now the 2021 guidance. A short stay for a rich experience and deep learning. You mentioned that you would also phase out coal in district heating. So its a huge project. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. Judith, you want to start with the EVBox question? Or is it your budget of the COI for these businesses in 2021? click here. And we will now take our next question from Ajay Patel with Goldman Sachs. So that is roughly what you have to have in mind. And yes, let me start by saying also welcome and wishing you success in the new role. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. These factors, together with a track record in decentralized infrastructure and a fast-growing position in renewable gases, means we are very well placed indeed. Thats one thing. We remain committed to a strong investment-grade credit rating and continue to target a ratio of below or equal to four times economic net debt to EBITDA over the long term. They represent a key long-term growth engine for the group. For example, in addition to the Amazon contract that I mentioned earlier, ENGIE will supply 3 terawatt hours of renewable energy to the global chemicals group, INEOS, through a 10-year corporate PPA. 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. 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. A cycle, of course, could be 3, 4, 5 years depending on the country. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only). New organizational structure for a simpler ENGIE to go live on July 1 We think, in general, gas is going to be important in this energy transition. That's where the "trim tab" comes in. Catherine MacGregor - Biography In Latin America, COI was up significantly, driven by the scope in effect and higher organic contribution of TAG, which, Im very pleased to say, has outperformed our expectations. It honours and commits me. Tax charges were 300 million lower mainly due to the decrease in profit. Live from New York and. Biography. Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. Il serait pertinent de se concentrer sur l'aprs nuclaire, You can store it. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. We will then consider next steps and review future ownership options for the new entity in the second half, maximizing value and acting in the interest of all our stakeholders. ENGIE SA (ENGIY) CEO Catherine MacGregor on Full Year - SeekingAlpha I think there was another question, which was related to the calendar. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. 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. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. And it would be helpful if you could highlight for us any meaningful one-offs embedded in the 2020 results, whether positive or negative that we should bear in mind as we build our bridge to 2021? So youve been talking about investment discipline. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. On your two questions, 1 was on the tax rate. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! 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. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. And sorry, just a follow-up on the CapEx. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks. Now turning to Networks. In recognition of their outstanding contribution in this energy crisis, given the inflationary context and our financial performance, we have decided to award an extraordinary bonus of 1500 to all ENGIE employees worldwide. organisation Let me know below I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. And I was interested to get your philosophy about minorities. Cheers! On the other hand, we, obviously, want stability in a power system. Keep abreast of significant corporate, financial and political developments around the world. So yes. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. European utility giant Engie named oil & gas industry veteran Catherine MacGregor as its new CEO with a remit to lead the French groups ambitious renewables and energy transition plans. And this is something, obviously, that we are going to continue and push. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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 so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. Okay. So yes, Thermal is a good fleet for us, good asset. This decrease in total COI was mainly driven by a negative 1.2 billion COVID impact, a negative 300 million pressure from foreign exchange mainly due to the depreciation of the Brazilian real and a negative 160 million impact from French temperatures. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. And so were excited about this transaction. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. Depending on opportunities, it could be this asset or another one. Thank you very much, James, for your question. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. 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. 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. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. On quick one on numbers, on guidance. Its not like a 2020 event. I will try and stick to two questions, too. But ENGIE shares have gone, lets say, sort of sideways and even down a bit in that time. The 281 million year-on-year COI decrease notably reflects warm temperatures and higher D&A in France. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. So two questions, please. Often, its actually a very small proportion of coal that is being used, but it is indeed the case that it is part of our feedstock. And part of this feedstock sometimes continue to rely on coal. We have in the U.S. the largest development pipeline. Kylie Jenner House Zillow,
Articles C
And then just another one on guidance. You have, of course, in mind, that we have committed to fund our waste provision until 2025. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? The biggest, of course, remains Renewables. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. And first question is for Catherine MacGregor. The peer groups done very well. We have not seen prices like this in many years. 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. 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. https://waves-energy.co/maps/. This really has two reasons. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. Thank you very much, Judith. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. This button displays the currently selected search type. 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? 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. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. And I just wanted maybe to clarify that the government has not explicitly made the decision. This is what I am committed to. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. We support credit card, debit card and PayPal payments. And then your other question was related to the organization. To read more about DN Media Group, Strategy: we have made progress in the execution of our plan to build a stronger and more unified Group, on the offensive to accelerate the energy transition. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . Now its a little bit difficult for me to really be critical about the past. With our strong local presence in key geographies and leading capabilities across the power generation value chain, including in energy management, which is a key for commercializing renewable energy, we are confident in our ability to drive long-term value creation from this renewables growth. All information you need to have a pleasant time during the event. Does this mean that Equans is now getting nothing? So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. Let me start with your second question, and then I will hand over to Judith, who will go through the details of the impairment impact, if you dont mind, Rob. So I would like to hear your opinion, how maybe your story might be slightly different from electric renewables players, how we maybe think about the gas network as a funding option for the renewables growth. And the second one, if I may ask, around Client Solutions. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. We are assessing the situation, which mainly affects renewables and supply activities. In 2021, we already have hedged 80% of the production at 46. 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. First, you will hear from our new CEO, Catherine MacGregor, on the highlights of 2020, followed by our CFO, Judith Hartmann, on our financial performance. And thats really the key part of what we do. Following which, as usual, well open the lines for Q&A. 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. 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. Our environment is changing. Catherine MacGregor - Forbes Because there was a time when that business was making around 600 million of COI. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. So really, in summary, three elements: complexity, sharper capital allocation, everybody pulling in the same direction and performance culture are three important elements, I think, that are going to make a difference and allow ENGIE, indeed, to strive in those strong tailwinds that continue to be there for us. - Play an important role in ensuring security of supply for France and Europe #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. analyse how our Sites are used. EBITDA and COI were both down significantly from last year mainly due to the impact of the pandemic. 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. Curious as to what my Linkedin connections think. She is the only female CEO in France's CAC-40 stock index; French Finance Minister Bruno. Elle travaille pendant 23 ans chez Schlumberger. Enel nearly tripled, Orsted quadrupled. And given that theyre contracted, to maybe accelerate other areas of the business? And so we are working really hard on these networks to find alternatives to use preferably renewables, things like biomass for example. Also on the same point, risking up or risking down in the future strategy, what is your view on how the risk profile for ENGIE should change going forward? Maybe some thoughts. [indiscernible] Sam, for putting more pressure on us. You can see that on the recent months trading for renewable players. Although we were in crisis management most of 2020, we did not lose focus on our long-term objectives and continued to invest for the future. The ability to manage risk, we see mature risk increasing in the renewable arena, and we are really good at that. We invested 7.7 billion of CapEx in total. Watch th. Okay. These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. And the second one is very bad timing. I guess, whats the kind of your average period of sort of non-productive capital work in progress? Yes. So Ill ask two questions. 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. And so the amount will be much lower than what you have seen in 2020. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. So thats a positive. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. About Catherine MacGregor MacGregor became the CEO of French energy company Engie in January 2021. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! Its the first step. And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. One was the CapEx. And so we will not give specific assets, of course, at any given time. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. And Judith? 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. A very fine, humane gesture that you promised your ENGIE colleagues. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. Theyre going into similar areas with Networks is an important aspect. 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. 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. Elle est ingnieur, diplme de l' cole centrale Paris, dont elle sort en 1995. La dernire modification de cette page a t faite le 22 fvrier 2023 19:40. Thank you. MacGregor said: I would like to thank the board of directors for the confidence it shows in me. And the answer is yes. Pour viter se gchis financier avec l'argent des franais More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. And also, is there any possibility to reverse the decision on the Belgium life extension should the Belgium government change its stance this year? #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). Carbon neutrality is at the heart of ENGIEs purpose and central to our strategic direction. Catherine MacGregor Wikipdia Very yes, good question. And we will now take our next question from Vincent Ayral with JPMorgan. Its were rounding numbers here, as you can see, because like I said, this is our target. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. And second, its really focused and making sure that everybody pulls in the same direction. And so our thermal fleet has a very, very important role to play there. No, thank you. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. Energy Solutions: we won major contracts in district heating and cooling networks but also in #greenmobility, notably with 5600 charging points for electric vehicles in Belgium This was due to higher contributions from entities with minorities, which fully contributed at EBITDA and COI levels but only contributed at share at net recurring income group share level. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Please go ahead. We have progressed on simplifying the group. We also benefited from higher contributions of GTT thanks to a strong past order intake. Altogether, these units can contribute to a yearly production of up to 3.9 terawatt hours, equating to the annual gas consumption for hitting approximately one million new build homes in France. 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. Ow, nobetter ! Yes. 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. And weve made some moves last year, and we will continue to do that. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. 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. We have a team of about 300 developers who are really good at what they do. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. 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. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. 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. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. So on EVBox, were very happy to have announced this transaction. I'm looking forward to continuing to make a difference together. 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. Engie appoints oil services executive to execute new renewables strategy 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. Excellent example of circular economy ! Congratulations to all of our employees on the well-deserved bonus. The Board has reaffirmed the groups dividend policy and proposed for 2020 a payout ratio of 75%, which is at the top end of the range. Precisamos de 20.000 apoios para que a ideia se transforme em lei. analyse how our Sites are used. The COVID impact on our thermal activities was minimal with lower demand mainly in Chile and Peru. Now the 2021 guidance. A short stay for a rich experience and deep learning. You mentioned that you would also phase out coal in district heating. So its a huge project. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. Judith, you want to start with the EVBox question? Or is it your budget of the COI for these businesses in 2021? click here. And we will now take our next question from Ajay Patel with Goldman Sachs. So that is roughly what you have to have in mind. And yes, let me start by saying also welcome and wishing you success in the new role. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. These factors, together with a track record in decentralized infrastructure and a fast-growing position in renewable gases, means we are very well placed indeed. Thats one thing. We remain committed to a strong investment-grade credit rating and continue to target a ratio of below or equal to four times economic net debt to EBITDA over the long term. They represent a key long-term growth engine for the group. For example, in addition to the Amazon contract that I mentioned earlier, ENGIE will supply 3 terawatt hours of renewable energy to the global chemicals group, INEOS, through a 10-year corporate PPA. 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. 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. A cycle, of course, could be 3, 4, 5 years depending on the country. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only). New organizational structure for a simpler ENGIE to go live on July 1 We think, in general, gas is going to be important in this energy transition. That's where the "trim tab" comes in. Catherine MacGregor - Biography In Latin America, COI was up significantly, driven by the scope in effect and higher organic contribution of TAG, which, Im very pleased to say, has outperformed our expectations. It honours and commits me. Tax charges were 300 million lower mainly due to the decrease in profit. Live from New York and. Biography. Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. Il serait pertinent de se concentrer sur l'aprs nuclaire, You can store it. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. We will then consider next steps and review future ownership options for the new entity in the second half, maximizing value and acting in the interest of all our stakeholders. ENGIE SA (ENGIY) CEO Catherine MacGregor on Full Year - SeekingAlpha I think there was another question, which was related to the calendar. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. 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. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. And it would be helpful if you could highlight for us any meaningful one-offs embedded in the 2020 results, whether positive or negative that we should bear in mind as we build our bridge to 2021? So youve been talking about investment discipline. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. On your two questions, 1 was on the tax rate. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! 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. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. And sorry, just a follow-up on the CapEx. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks. Now turning to Networks. In recognition of their outstanding contribution in this energy crisis, given the inflationary context and our financial performance, we have decided to award an extraordinary bonus of 1500 to all ENGIE employees worldwide. organisation Let me know below I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. And I was interested to get your philosophy about minorities. Cheers! On the other hand, we, obviously, want stability in a power system. Keep abreast of significant corporate, financial and political developments around the world. So yes. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. European utility giant Engie named oil & gas industry veteran Catherine MacGregor as its new CEO with a remit to lead the French groups ambitious renewables and energy transition plans. And this is something, obviously, that we are going to continue and push. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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 so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. Okay. So yes, Thermal is a good fleet for us, good asset. This decrease in total COI was mainly driven by a negative 1.2 billion COVID impact, a negative 300 million pressure from foreign exchange mainly due to the depreciation of the Brazilian real and a negative 160 million impact from French temperatures. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. And so were excited about this transaction. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. Depending on opportunities, it could be this asset or another one. Thank you very much, James, for your question. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. 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. 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. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. On quick one on numbers, on guidance. Its not like a 2020 event. I will try and stick to two questions, too. But ENGIE shares have gone, lets say, sort of sideways and even down a bit in that time. The 281 million year-on-year COI decrease notably reflects warm temperatures and higher D&A in France. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. So two questions, please. Often, its actually a very small proportion of coal that is being used, but it is indeed the case that it is part of our feedstock. And part of this feedstock sometimes continue to rely on coal. We have in the U.S. the largest development pipeline.