We want to develop and further our differentiation. It mainly affects our renewables and supply activities. Recharge is part of DN Media Group AS. 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. But time will tell. Keep abreast of significant corporate, financial and political developments around the world. So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. So these are some of the things that we are excited about when we think about our network assets, and we like it. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. Indeed, we had an increase a temporary increase in 2020 to 32.5%. And then on your DBSO question, what were expecting for 2021 is roughly in line with what we had in 2020, so just below 100 million. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. 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. And I look forward to leveraging their strengths to deliver on a full agenda in such critical times for the energy industry and for ENGIE. 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. 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. So thats one aspect of it. When expanded it provides a list of search options that will switch the search inputs to match the current selection. 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. Thank you. Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Thats really clear. 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. From 2013 to 2016, she served as President Europe & Africa at Schlumberger, before being promoted in 2017 to President of the group's drilling activity, based in London. Thanks to Faye Kirby and Valencia Anderson for setting up the display and sharing books written by black authors. So Ill ask two questions. And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. This was mainly due to impairments, especially related to our nuclear reactors. We also continued our relentless pursuit of simplifying the group. Are you working on a new organizational format? Laut Konzernchefin Catherine MacGregor werde man im laufenden Geschftsjahr 2023 einen Gewinn zwischen 3,4 und 4 Mrd. We have a high performing gas fleet, as you know, which is very important in our mind to bring the flexibility to the system. La dernire modification de cette page a t faite le 22 fvrier 2023 19:40. We think its important to have a system play on renewables. Simply log into Settings & Account and select "Cancel" on the right-hand side. I wish to thank Paulo Almirante, Judith Hartmann and Claire Waysand who will continue to serve as the interim management team until January 1st., I would like to thank the Board of Directors for the confidence it shows in me. We have in the U.S. the largest development pipeline. Depending on opportunities, it could be this asset or another one. You can update your choices at any time in your settings. If we basically look at simplification, we could cut it in two parts, what I would call transactional simplification, disposals buyout of minorities on maybe organizational simplification. Pour viter se gchis financier avec l'argent des franais And the answer is yes. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. Alongside renewables, we are also developing projects of up to 3 gigawatts of gas-fired generation. We delivered for our customers while continuing to invest in major capital projects. That will put pressure on Ms MacGregor to make her mark . Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. January 7, 2021. 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. The reversal of a positive internal one-off from the fourth quarter of 2019 offset in supply as well as the first effect of the RAB remuneration rate decreases also contributed to this lower COI in France. She was in charge of the entitys IPO. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. Please. Her vision on ENGIEs transformation and development, her industrial and international track record as well as her leadership and managerial skills will fully contribute to the achievement of the strategic orientations announced at the end of July, the companys statement reads. Recharge is part of DN Media Group. French utility's new chief Catherine MacGregor to increase investment in renewables. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. Do you have a vision about taking this proportion of minorities down for the group? French Networks had limited COVID impact also mainly on distributed gas volumes. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. Now turning to Networks. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. 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. Now that doesnt mean that we should not have discipline. This change led to an impairment, which Judith will cover shortly. Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. I think there was another question, which was related to the calendar. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. It's inspiring to see how ENGIE's strategy for a balanced, affordable, and resilient energy mix has proven its relevance in these uncertain times. I think on the question of network convergence between gas and power, I think were a bit obviously, different drivers behind this, one, which is the trend towards more electrification is something to stay. This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. You have, of course, in mind, that we have committed to fund our waste provision until 2025. is its Ocean Winds joint venture with EDPR. Okay. Catherine MacGregor will join Engie as CEO. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. 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. I think the team has done, so far, a really nice job. Renewable #Gas: We continue to make progress, with 459 #biomethane production units connected to our networks in France, and with 5 of our #hydrogen projects in Europe selected to benefit from public aid from the European Commission. Our group remains committed to Belgium and to contributing to the countrys security of supply. modifier - modifier le code - modifier Wikidata. We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. And then the second question is more for Judith. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. 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. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. You may change or cancel your subscription or trial at any time online. A key part of that strategy is its Ocean Winds joint venture with EDPR, which has set out its stall as a global leader in offshore wind. I think these are really, really good questions. Indeed, you can expect positive cash flow operation from our nuclear activities. Also from my side, Catherine, a very warm welcome to the sector and wishing you all the best. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. Catherine MacGregor est elle-mme mre de deux filles 2 . hosting the engineering activities. 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. We use Sign up for more in-depth articles and insights. For this, I would like to say a big thank you to Judith, Paulo and Claire for their strong leadership in 2020, as they had the dual challenge of advancing the group simplification agenda whilst, at the same time, ensuring we continue to deliver essential services to our customers. Yes, its hard to give any precise guidelines on that because, of course, it depends on the M&A and greenfield mix, and it depends on the type of projects that youre after. I was happy to see so many enjoying each others company. In other geographies, we benefited from commissioning new capacity in the United States and from higher wind production. It seems to be the trend last few questions. We are assessing the situation, which mainly affects renewables and supply activities. Okay. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. You may change or cancel your subscription or trial at any time online. Catherine was President of Technip Energies at TechnipFMC, and President of Drilling at Schlumberger. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. 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. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. But in short, we have big ambition, but we will be disciplined. 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. We currently have leadership positions in all of these activities, and recent successes include a 30-year contract signed in Monaco to design, build, own and operate a seawater heating and cooling network that will enhance energy efficiency. COVID weighed particularly heavily on Client Solutions and on Supply. 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. 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. So here, generally, the question, how do you think about the future of the gas networks? You can store it. In 2021, we already have hedged 80% of the production at 46. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. Overall, we have 100 cooling networks with a total installed capacity of 6.1 gigawatts and 300 heating networks of various sizes that distribute 19 terawatt hours yearly. Thank you very much for your attention, and I would like to turn now the line back to the operator for the Q&A session. Now the guidance for 2021. Now the 2021 guidance. Our portfolio of wind and solar assets has an average age of five years with an average residual contract duration of 15 years, which offers us with good visibility of earnings. CEO - Engie. And second, its really focused and making sure that everybody pulls in the same direction. So our main working scenario right now is that it wont happen. This included 4 billion of growth CapEx, almost exclusively in our areas of strategic growth with approximately 40% in renewables, 40% in networks, and 15% in asset-based Client Solutions. The renewables COI, could you break that down, if you dont mind, into the change in hydro versus wind and solar in the 2020 numbers? We intend to retain a higher ownership of our renewables project where it is strategically and economically rational as we indicated in our strategic orientation. And given that theyre contracted, to maybe accelerate other areas of the business? We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. But really appreciate, thanks again ! Warm temperatures in the first half also weighed on energy consumption, mainly in France, for B2C gas volumes. Thank you, Sam, for this question. With respect to the recent extreme weather events in Texas, we are assessing the situation. We reshaped the portfolio by investing 7.7 billion CapEx and by disposing of 4.2 billion of assets. 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. A key area of value creation from renewables is the ability to commercialize energy with new and innovative solutions for customers, and we have made great progress on this front. Thank you, Catherine, and good morning, everybody. And I was interested to get your philosophy about minorities. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. Some of your peers there have convinced the market that they transitioned to hydrogen. And this is something, obviously, that we are going to continue and push. This button displays the currently selected search type. Dans intrt de la France, La situation en France depuis plus de 50 ans 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. How quickly can that new CapEx sort of translate into earnings? university However, we claim we have a valid solution to the above problem,, inviting large corporations like Engie and others reading this, to scrutinize our numbers and concept very carefully. Thats a good clarification. So two questions, please. I would love to hear from you. Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. Is it something that you will tell us more about in May? Obviously, well give you more color on our ambition on renewables in May. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, But is it bad? 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. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. Price is going up. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line, Glad to see all the progress Engie is doing in becoming a renewable leader. But that brings me to my question actually. Now the other aspect, of course, is that we are obviously and we have not talked too much about it yet, but the hydrogen opportunity for us is very, very material. The first is on the Supply business. COI decreased mainly driven by a 600 million impact from the pandemic. Find here the list of all the sessions presented by this speaker in order not to miss any of it. And so the amount will be much lower than what you have seen in 2020. You can still enjoy your subscription until the end of your current billing period. Before I say more on this, let me review the groups overall 2020 performance. We will run processes. And then your other question was related to the organization. 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Elle a t leve au Maroc[1]. https://waves-energy.co/maps/. So that is roughly what you have to have in mind. On the other hand, we, obviously, want stability in a power system. Elle est ingnieur, diplme de l' cole centrale Paris, dont elle sort en 1995. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. - Accompany our customers in their decarbonization strategies to face the climate emergency So lots of enthusiasm around renewable. - Contribute to measures to support purchasing power Non Madame 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. 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. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. And so to in that respect, I think your comment might be valid. 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. This was partially offset by capital gains, the main one being 1.7 billion due to the sale of the 29.9% shareholding in SUEZ. Regarding the organizational simplification, you mentioned complexity of the group. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? We do believe that its important to keep return in mind whenever we bid, and there is no must-win auction in ENGIE. The Board of Directors decided to appoint Catherine MacGregor as ENGIE Chief Executive Officer. Catherine MacGregor a rejoint le groupe ENGIE le 1. er. Its a geography refocus. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. Obviously, we have made the decision to exit the coal, which is run under Thermal. 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. 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. And also, is there any possibility to reverse the decision on the Belgium life extension should the Belgium government change its stance this year? Great post Catherine Fiamma MacGregor! And side comment also on this is that our employees are obviously very excited about renewable as being a growth center of a growth engine for us in ENGIE, so as well as obviously being a key goal of our ESG road map. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. 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. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." As we are reminded by extreme events, such as the recent ones in Texas, it is critically important that decarbonization of the energy mix is both reliable and affordable. Stepping back. Very yes, good question. At the end of 2020, the financial net debt-to-EBITDA ratio was 2.4 times, a slight decrease compared to December 2019. Welcome to the utilities world. Let me now turn to our ESG performance. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. commentary and analysis you can trust. Higher D&A was mainly due to accelerated amortization of some distribution assets. 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 if you look at what we announced on January 14 is indeed a smaller executive team, less members. So maybe I will start with your last question, which is around the decision on nuclear. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month.