Engie appoints oil services executive to execute new renewables strategy Parit homme-femme au sein des directions gnrales encore loin du Engie will also capture opportunities resulting from recovery plans announced in Europe, notably related to the development of green gases (biogas and hydrogen). Carbon neutrality is at the heart of ENGIEs purpose and central to our strategic direction. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. 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. Catherine was President of Technip Energies at TechnipFMC, and President of Drilling at Schlumberger. 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. Do you see eventually opportunities in the future going forward with the convergence between power network and gas network considering the evolution of the hydrogen, Catherine? Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. Is it something that could be you realize value of and take advantage of low rates? That will put pressure on Ms MacGregor to make her mark . We also continued to benefit from the cost actions launched in the second quarter. ENGIE is a major player in the energy sector, and we are extremely well placed to tackle most of the challenges posed by this transition. And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. Yes. Could you clarify how much COVID impact youve included in 2021 relative to the 1.2 billion hit in 2020? And as in the past, we will be very mindful of timing. She has managed numerous complex industrial projects, both . We delivered for our customers while continuing to invest in major capital projects. hosting the engineering activities. 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 have a couple of questions, 1 for Catherine and 1 for Judith. All these strategic advances, which place our Group as a leader in the low-carbon transition, are the result of the exceptional commitment of all our teams! Operator? Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). I was very pleased to participate in the 9th Ministerial Meeting of the Southern Gas Corridor Advisory Council, and the 1st Ministerial Meeting of the Green Energy Advisory Council, held in #Azerbaijan last week. A warm welcome as well to you, Catherine MacGregor. It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. Yes. Access to customer sites was much reduced during the strict lockdowns of the second quarter 2020, and we were not able to perform various services. 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. fusion, [1] She started her career on stage in New York City, in theatres off and on Broadway, credited as Scottie MacGregor . My first reaction with the bonus: Wow great ! 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. 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. 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 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. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. How old is Ms MacGregor? Pour les articles homonymes, voir MacGregor. And weve made some moves last year, and we will continue to do that. And we will now take our next question from Ajay Patel with Goldman Sachs. I'm looking forward to continuing to make a difference together. Operationally in 2020, the group continuously evolved processes to tackle COVID, and we maintained high health and safety standards for both occupational and process safety. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Battery storage is expensive, produces no net power, has a very high LCA and basically impossible at the needed grid size. Elle a t leve au Maroc[1]. Let me give you the 2020 COI highlights. So yes. In summer 2019, she joined the Executive Committee of TechnipFMC Group, to lead its engineering division. One is, of course, to participate in the future growth that we are projecting for this company; and second, of course, the close link into this space, which is a very important space for us. 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. Therefore, we do continue that we do think that gas will continue to play a very key role. From November 1st DN Media Group is responsible for controlling your data on Recharge. Ms MacGregor is 48, she's been the Chief Exec. We support credit card, debit card and PayPal payments. There are 25 older and 1 younger executives at ENGIE SA. Thank you very much, Judith. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. Weve proven that over and over again in very, very recent past. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. We have in the U.S. the largest development pipeline. #buckminsterfuller #trimtab #climatechange. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. And does is your vision about full ownership versus minorities guiding your capital allocation going forward? I would love to hear from you. And I was interested to get your philosophy about minorities. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. Maybe I will start with your second question, which relates to the coal used in DHC. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. It mainly affects our renewables and supply activities. 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. 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. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. And as you might have noticed that lately, we have not really entered the race of enhancement of gigawatt. This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. Thanks to Faye Kirby and Valencia Anderson for setting up the display and sharing books written by black authors. So in general, we have 31-gigawatt portfolio. Elle y dirige des activits de forage au Congo, en Mer du Nord 3, aux tats-Unis, en Malaisie, au Royaume-Uni et en France 4. The first one is, following the impairment on Belgium Nuclear, could you indicate whether there will be any impact on depreciation and amortization going forward? #mixedfeeling :D Pay my electricity bill of next year. And lets now, indeed, look at our priorities for sustainable long-term value creation. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Catherine Fiamma MacGregor on LinkedIn: ENGIE 9M 2022 Financial is its Ocean Winds joint venture with EDPR. Tax charges were 300 million lower mainly due to the decrease in profit. 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. 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. We expect financial performance to improve significantly from 2020 driven by a combination of strong recovery from COVID impacts, growth in renewables and international networks, improved nuclear availability and higher achieved price, and reversal of warm weather effects. 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. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Nothing much more structural than that really, James, on supply improvement. [Foreign Language]. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. 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? At the end of 2020, the financial net debt-to-EBITDA ratio was 2.4 times, a slight decrease compared to December 2019. We are investing in our strategic priorities for long-term value creation. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. For the first part of the transactions, you mentioned the first buyout of or rather the buyout of a part of your minorities in Latin America. But let me reassure you, there are several processes that have been launched, and so were confident that we can move at speed to really help simplify the group through the disposals. 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. For cost savings, you can change your plan at any time online in the Settings & Account section. Net recurring income group share was in line with guidance but at the bottom end of the range. So maybe I will start with your last question, which is around the decision on nuclear. 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. Our near-term priority in the region is to commission two major electricity transmission projects. 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. We have also started to adopt the existing gas transport networks by commissioning three reverse flow installations in 2020, which allow biomethane to flow from the distribution grid to the gas storage units. Yes. 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. Hopefully, thats an easy one, but would be very helpful. Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. organisation When I think of hydrogen for ENGIE, I think all of our activities, all of our mtier benefit. In the past Ms. MacGregor held the position of President-Drilling Group at Schlumberger NV and Personnel Director at Oilfield Services Co. Ltd. Ms. MacGregor received an undergraduate degree from cole Centrale Paris. And so were excited about this transaction. I would say that some of the things that were decided last year with these strategic orientations, I am very, very convinced that well address some of the shortfalls that can explain some of the ENGIEs underperformance in the past few years. cookies But that brings me to my question actually. We have a lot of experience over the years developed through our generation and thermal activity. And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. We have some core competencies. Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. The key here is really to give that business its own industrial project, its own identity. I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. I think thats clearly something the market will be expecting there. 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. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? And thats really the key part of what we do. 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. https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. Okay. Some of your peers there have convinced the market that they transitioned to hydrogen. Recharge is part of DN Media Group. We have not seen prices like this in many years. Also from my side, Catherine, a very warm welcome to the sector and wishing you all the best. Catherine MacGREGOR - Les Rencontres conomiques And so were keeping 40%. Holidays ? We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. CEO Affiliation Engie Country France 2020 Rank 13 In her first year as CEO of the giant French power company, MacGregor, an oil and gas industry veteran, focused on simplifying the $63.5. And we will now take our next question from Vincent Ayral with JPMorgan. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. And so our whole plan that weve announced today, and obviously, very pleased to have made this announcement today, includes for each of these networks solution to convert the coal to other source of feedstock. So first to reiterate on that, we are very pleased with our position on renewables, and we are leader in France. Curious as to what my Linkedin connections think. 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 that is roughly what you have to have in mind. 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. 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. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. university Okay. I think we are now about time, so I would like to thank you for your attention. Together, let's continue to make a difference! Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. And so these are some of the things that complexity and ability to manage activities that are very, very different from each other, I think really get in the way of performance. Great post Catherine Fiamma MacGregor! You can update your choices at any time in your settings. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. We are a media company, specifically facilitating the maritime and offshore industry. Problem: 40% of the hours of the month there is minimum wind and zero sun. If so, do you have a view to what level? Engie has been riven in the past by fights between chairman and CEO and is a company where the board plays a big role in shaping strategy. 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Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. Let me now hand you over to Judith to cover our financial overview, and I will come back on strategic priorities. Thank you Renata Spada for being yourself and authentic. On the strength of our shared industry culture and my operational experience, I will work with all of our teams to achieve our goal of enabling Engie to accelerate the energy transition.. Next, a few words on the bridge from EBITDA to net recurring income group share. 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. Revenue declined on a gross basis by approximately 900 million for the full year. Catherine MacGregor - Biography Does this mean that Equans is now getting nothing? 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. And then the second one, its for Catherine. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. But time will tell. Education Catherine MacGregor has obtained a degree from CentraleSuplec in 1995. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. On May 18, 2021, ENGIE's Chief Executive Officer Catherine MacGregor unveiled the Group's strategic roadmap, to reaffirm ENGIE as a leader in the energy transition. Before I say more on this, let me review the groups overall 2020 performance. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. And so the amount will be much lower than what you have seen in 2020. Then rapidly followed: "what am I gonna use that for ? Live from New York and. Yes. By Gwnalle Barzic and Geert De Clercq. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. Catherine MacGregor Wikipdia By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. Welcome to the sector, indeed. Katherine MacGregor - Biography We have this 28 billion RAB, or regulated asset base, in France, which gives us this good visibility and predictability, which is a very nice complement to the renewable. offers FT membership to read for free. And given that theyre contracted, to maybe accelerate other areas of the business? Let me now turn to our ESG performance. The peer groups done very well. The first is on the Supply business. 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. 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. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. 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. So the 150 million I gave is correct. In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. 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. Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Within this guidance, we have included our current estimate of the potential impact. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. Catherine, the floor is yours. Now the 2021 guidance. So when you will reinvest? On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. And that will be something that we will be describing a bit more in details in May. Thank you very much, James, for your 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. I would like to pay tribute to their mobilization, which has enabled us to: