So no specific things to be taken into account. What is the identity of the Thermal business? I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. You may now disconnect. Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. And then, of course, in terms of Thermal, we will be very opportunistic. MacGregor will take the helm at Engie in January 2021, joining from TechnipFMC Group where she has spent just over a year as head of Technip Energies. As always, my team and I are here to assist you, so do please reach out. Its going to take us some time. We invested 7.7 billion of CapEx in total. I would like to take this opportunity to thank all ENGIE employees who have worked so hard to deliver critical services for our customers in unprecedented conditions. Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. Let me give you the 2020 COI highlights. A quick word on the agenda for this morning. 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. The ENGIE Board set out strategic orientations for the group last year in July 2020, and my new executive team and I have three clear priorities: firstly, simplifying the group at pace; secondly, investing further, investing in renewables, networks and asset-based client solutions, as these are areas of competitive strength for ENGIE; and finally, strengthening our groups commitment to the energy transition. And Networks, given that we do, we continue to invest here in France into the RAB, you will see a relative quick turnaround into contribution. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Let me know below We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. So all of the work that we started last year and that we are doing as part of this consultation is to bring these activities into a coherent entity, and this is really happening now with a commonality in terms of mtier, activity type, expertise, purpose and also industrial project. We have strict criteria, and we will stick to them. 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. Les miroirs magiques et moulins vent ne seront jamais une alternative au nuclaire franais, Its, quite frankly, one of the big wins, I think, of last year when you think about it because both operationally to take this company to a level and multiply by almost 10 times their revenue over the last two years. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. So on EVBox, were very happy to have announced this transaction. And then I also had a question on the coal phase out. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. 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. Premium access for businesses and educational institutions. This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. Are you working on a new organizational format? 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. Thank you, Emmanuel, for your questions. 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. janvier 2021 en qualit de Directrice Gnrale. We reshaped the portfolio by investing 7.7 billion CapEx and by disposing of 4.2 billion of assets. 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. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. The first one is on strategy. I think these are really, really good questions. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. We have a high performing gas fleet, as you know, which is very important in our mind to bring the flexibility to the system. I guess, whats the kind of your average period of sort of non-productive capital work in progress? Thank you very much, Judith. So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. We use and other data for a number of reasons, such as keeping FT Sites reliable and secure, Together, let's continue to make a difference! Obviously, well give you more color on our ambition on renewables in May. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. When expanded it provides a list of search options that will switch the search inputs to match the current selection. I would like to pay tribute to their mobilization, which has enabled us to: 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. So thats a positive. But we really want to focus on a return-based growth strategy. And how quickly do you think it can actually contribute to your earnings, please? Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. 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. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . But when you think about where that green hydrogen will be produced and where it will be consumed, the fact that we have infrastructure to transport this hydrogen, potentially to store this hydrogen will play to our strength. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. You can see that on the recent months trading for renewable players. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. or And that will be something that we will be describing a bit more in details in May. We think, in general, gas is going to be important in this energy transition. I have a couple of questions, 1 for Catherine and 1 for Judith. Hopefully you can also take this into account? Is it something that could be you realize value of and take advantage of low rates? on the development of flexible and resilient energy systems. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. And I think the way I want to say this is I think we know the broad plan now for the business, but I think its also important to look back at the last 5 years and understand why essentially the investment thesis has not delivered so far for shareholders. personalising content and ads, providing social media features and to It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. commentary and analysis you can trust. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. organisation Maybe I will start with your second question, which relates to the coal used in DHC. 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. Iberdrola shares nearly doubled. Welcome to the sector, indeed. We have a team of about 300 developers who are really good at what they do. For cost savings, you can change your plan at any time online in the Settings & Account section. Please disable your ad-blocker and refresh. We will now take our next question from Peter Bisztyga with Bank of America. Its been a period in which the sector was exceptionally strong. So these are some of the things that we are excited about when we think about our network assets, and we like it. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. A particular region of international growth in Networks has been Latin America, where, in addition to gas, we are also building power transmission lines. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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. Now its a little bit difficult for me to really be critical about the past. Aged 48 and an engineering graduate of cole Centrale Paris, Catherine MacGregor started her career at Schlumberger in 1995, where she spent 23 years in positions of international responsibility, notably as group HR director. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. So hopefully, this helps. This is what I am committed to. cookies And while were not going to grow it at the same rate as Renewables and Networks, we will be opportunistic in managing this fleet. And I just wanted maybe to clarify that the government has not explicitly made the decision. analyse how our Sites are used. Indeed, we had an increase a temporary increase in 2020 to 32.5%. So I think this is a key point Id be interested in. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. Ses parents, d'origine corse et basque[1], sont professeurs. Vocs conseguem nos apoiar? So to summarize, ENGIE made progress at pace in 2020. Yes. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. Select Accept to consent or Reject to decline non-essential cookies for this use. Its coal exits. The oldest executive at ENGIE SA is Francoise Malrieu, 73, who is the Independent Director. 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. We have made the decision to stop the work to prepare for this such an extension. We also posted higher financial costs. Cheers! A warm welcome as well to you, Catherine MacGregor. Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. 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. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. 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? 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 expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. Check if your Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. No, thank you. Is it something that you will tell us more about in May? Engie board set to appoint Catherine MacGregor as new CEO. . Thank you, Sam, for this question. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. 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. 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. So the what is happening here in France on biomethane is actually quite real, and so we are now looking at potentially having sufficient volume to fully displace what will be needed in gas at the 2050 horizon. Weve proven that over and over again in very, very recent past. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. I have proper control over all inventory department with the skill of my Minimum and Maximum stock levels, Gerente Industrial | Gesto de Operaes e Servios | Supply Chain | Engenheiro de Produo | leo e Gs | Suporte Tcnico | Produo | Gesto da Qualidade, Pessoal, eu criei esta Proposta de Ideia Legislativa no Senado Federal que se transformada em lei criar as Poltica Nacional de Incluso das Pessoas 50+. I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. 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. Pour viter se gchis financier avec l'argent des franais Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. 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? Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Does this mean that Equans is now getting nothing? 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. #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. So lots of enthusiasm around renewable. 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. 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. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. 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. We have not seen prices like this in many years. 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? Together, these drivers helped to more than offset negative foreign exchange in Brazil, Mexico and Argentina. Following which, as usual, well open the lines for Q&A. 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. 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. Officer of ENGIE SA since . Turning to our major focus areas starting with Renewables. Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. 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. MacGregor will take the helm at Engie in January 2021, joining from TechnipFMC Group where she has spent just over a year as head of Technip Energies. And to this end, Im very pleased to announce our next event on the 18th of May, where Judith and I will cover both our Q1 results and provide you with a medium-term strategic plan and guidance. Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! Now that doesnt mean that we should not have discipline. She occupied a number of roles within [] On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. 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. Its a geography refocus. Every Friday at a quarter past 10, the fire alarm. modifier - modifier le code - modifier Wikidata. Catherine MacGregor a rejoint le groupe ENGIE le 1. er. We had 1.2 billion total impact last year. So Ill ask two questions. And I think, namely complexity is 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. At the event, we were pleased to highlight how #Masdar is working with our partners in Azerbaijan to develop world-class clean energy projects like the 230 MW Garadagh Solar PV Plant, with further agreements to develop up to 10GW of clean energy capacity across #onshorewind, #offshorewind, #solar, and #greenhydrogen projects. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. Elle est alors nomme prsidente New Ventures de TechnipFMC. These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. 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. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility.

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