And then your other question was related to the organization. So if we have opportunities, which, from an energy transition makes sense, because, for example, they would replace coal or even worst, fuel assets and bring a solution of flexibility to the system is something that we might consider. We have a strong position in Brazil, in Peru, in Chile. However, our results were ahead of our expectations on both metrics, and this was driven by the fact that the second half confinements were lighter in our main markets and that we adapted our processes, contributing to improved activity levels. And so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. And we will now take a last question from Louis Boujard with ODDO. This decision, effective as from January 1st 2021, is the result of a selection process, led by Jean-Pierre Clamadieu, Franoise Malrieu and members of the Appointments, Compensation and Governance Committee, following the highest standards of governance. 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.. 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 I just wanted maybe to clarify that the government has not explicitly made the decision. So for my question, the first is on the asset rotation. And so we consider that these are going to be very important in the near term at least in order to maintain a power system that is both robust and affordable, which was some of the features that I described in my talk, as extremely, extremely important for this energy transition. But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? The ability to manage risk, we see mature risk increasing in the renewable arena, and we are really good at that. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. 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. Then rapidly followed: "what am I gonna use that for ? Net recurring income group share was in line with guidance but at the bottom end of the range. Enel nearly tripled, Orsted quadrupled. Catherine MacGregor - Chief . Catherine MacGregor will join Engie as CEO. But now that we have officially become Equans for a few weeks, this message that all ENGIE employees worldwide will receive a bonus of 1500,- comes as a disappointment. Very yes, good question. 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. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. Comptences clefs . Now simplification is a bit of a general concept, and I was hoping for a bit more color from your part. That's where the "trim tab" comes in. The enshittification of apps is real. We had 1.2 billion total impact last year. analyse how our Sites are used. 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. Est 53 centrales nuclaires qui vous donnent l'lectricit la moins chre au monde, 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. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. Aarti Singhal - Director of Investor Relations. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. Obviously, you did signal that youd be ramping up CapEx. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. In her efforts to "simplify" Engie, MacGregor is moving from 25 business units to 4 globally, and . We also invested in #RenewableEnergy with the acquisition of 6 GW of solar and storage capacity projects in the US and signed an MOU to develop 3 GW of #wind power in Egypt. Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. No, thank you. Is it something that you will tell us more about in May? This is particularly noteworthy in the context of the unprecedented pandemic. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. Together, these drivers helped to more than offset negative foreign exchange in Brazil, Mexico and Argentina. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. We are a smaller company than Engie normally would partner with. In terms of geography, we have a strong hold in Europe. On your two questions, 1 was on the tax rate. Today, I am very pleased to announce a commitment to exit all coal assets in Europe by 2025 and globally by 2027, in line with our purpose to drive carbon neutrality. There are 25 older and 1 younger executives at ENGIE SA. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. In Thermal, we expect a COI decrease due to the normalization of a strong 2020 performance in Europe, which was supported by high spark spreads and ancillary contributions. 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. In the summer of 2019, she chose to pursue her career in the energy industry by joining the executive committee of the TechnipFMC group to lead its onshore and offshore engineering and construction activities, Technip Energies. And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. Holidays ? 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. We support credit card, debit card and PayPal payments. 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). Hopefully, thats an easy one, but would be very helpful. offers FT membership to read for free. And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! Hopefully you can also take this into account? 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. 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. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. We will make sure that we get the right price. Turning to an update on the strategic review of part of our Client Solutions business that was launched in the second half of last year. And so the number that I quoted, which was the injection that we did last year, you start to see that it becomes meaningful. I was wondering whether you could just remind us where youre still using coal in district heating and what the options are there, whether youre planning on investing and converting those units to cleaner fuels? , Dear Catherine, And still on the asset rotation, this leaves you probably, I dont know, 12 billion of total proceeds, maybe overall when we put everything all together. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. Posted mercredi, avril 14 2021 Last month, with her feet barely under the desk, Catherine MacGregor was required to appear before the French senate's economic affairs committee be grilled on Engie's strategy. One second, it will be over soon. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. Thank you. Its were rounding numbers here, as you can see, because like I said, this is our target. Let me now focus on the evolution of net debt and on our leverage ratios. Therefore our industry is [], ENGIE steps up its energy transition, targets renewables, MacGregor to supply RoRo equipment for K Lines LNG-powered newbuilds, Equinor and Engie press ahead with H2BE hydrogen project in Belgium, Engie names Catherine MacGregor as new CEO, MacGregor to supply all-electric RoRo equipment to H-Lines PCTCs, MacGregor to equip 4 more Hegh Autoliners multi-fuel PCTCs, In focus: Investments in oil, offshore wind hit a snag. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. or A very fine, humane gesture that you promised your ENGIE colleagues. janvier 2021 en qualit de Directrice Gnrale. The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. 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. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. All options for the sale of Equans, the newly-created services unit of French energy group Engie (ENGIE.PA), are being considered, including a possible listing, Chief Executive Catherine MacGregor . Thank you, Sam, for your welcome message and your welcome question. 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. 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. 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. Yes. Ill start maybe with, again, the second one on renewables. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. 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? And if so, what quantity? And Judith? Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. La dernire modification de cette page a t faite le 22 fvrier 2023 19:40. Yes. Offshore wind is typically much longer. So and then maybe Ill add that there is also, I think, a lot of things we can do and we are doing, and we will continue to do and even increase around industrialization, procurement, supply chain, of course, digital. 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. Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! 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 that will be something that we will be describing a bit more in details in May. 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. H2, And so were keeping 40%. And so to in that respect, I think your comment might be valid. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. #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. Learn more in our Cookie Policy. You mentioned that you would also phase out coal in district heating. Chef d'Agence Filire Vente Centre Ouest chez GRDF, Thank you Catherine Fiamma MacGregor for your post that combine strategy, progress and well-balanced energy mix (#renewable #gaz #power) to confirm meaning and a consistent vision to our company, not to mention the recognition. 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. Recharge is part of DN Media Group. We continue to develop these activities, including through an acquisition of the worlds largest district cooling scheme in Dubai, allowing us to increase our DHC net installed capacity by 9%. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. But that brings me to my question actually. Other generators like Uniper and Fortum have been very strong as well. She occupied a number of roles within [] And weve made some moves last year, and we will continue to do that. 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. COI decreased mainly driven by a 600 million impact from the pandemic. Now the markets are looking at the remaining energy services. I have a couple of questions, 1 for Catherine and 1 for Judith. Depending on opportunities, it could be this asset or another one. That will put pressure on Ms MacGregor to make her mark . 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. Regarding the organizational simplification, you mentioned complexity of the group. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. university In that entity that we are forming, which is the object of the consultation weve talked about, there will be 34,000 roughly 74,000, sorry, 74,000 people. Catherine will then come back and share our priorities. Notre lectricit est dj propre Revenue declined on a gross basis by approximately 900 million for the full year. As CEO, Catherine MacGregor will focus on defining and implementing the Group's strategic road map, in particular around the two priority areas announced in July 2020 by the Board of Directors: speeding up growth . Jusqu' l'arrive de Christel Heydemann la tte d'Orange en 2022, elle est la seule femme la tte d'une entreprise du CAC 40[7].