Yes, Judith, just to follow up on the Nuclear, can I just ask setting aside the provisions and the cash payments against those which we know about, can I just ask, do you anticipate any positive free cash flow from the nuclear fleet now in the rest of its life, I mean, if you just look at operating cash flow and essentially operating CapEx that youve got to put in? Its coal exits. 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. We use Higher D&A was mainly due to accelerated amortization of some distribution assets. cookies She was in charge of the entitys IPO. So two questions, please. We announced last December that EVBox would be listed on the New York Stock Exchange. She has managed numerous complex industrial projects, both . We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. H2, Its two and probably a little bit more early. I mentioned earlier two things actually. You mentioned that you would also phase out coal in district heating. 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. We have a new business organization and leadership team who is focused on performance, and weve committed to executing our strategy to accelerating the group growth and to strengthening our commitment to the energy transition. And we will now take our next question from Vincent Ayral with JPMorgan. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. And Im going to pass it on to Judith to comment maybe on the other questions. 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. Simply log into Settings & Account and select "Cancel" on the right-hand side. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. So in short obviously, its a topic we could talk for hours. Its not like a 2020 event. 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. 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? So there will be a capital gain on this. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. 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. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? Even if you ten-double the installations of these sources, the 40% remains. 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. You certainly have a lot of people out here who want you to be very successful. Officer of ENGIE SA since . We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. Indeed, we had an increase a temporary increase in 2020 to 32.5%. 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. You have, of course, in mind, that we have committed to fund our waste provision until 2025. And we will now take a last question from Louis Boujard with ODDO. It honors and commits me. 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. Yes. But on defining the structure, does that mean we have a disposal in Q3, Q4? Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. Ill start maybe with, again, the second one on renewables. 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. Hosted by His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, my dear friend His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan, and Kadri Simson, EU Commissioner for Energy, this is an important forum for advancing Europes #cleanenergy ambitions. Let me now hand you over to Judith to cover our financial overview, and I will come back on strategic priorities. This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. And sorry, just a follow-up on the CapEx. Some others, there is still a good portion of assumption that there might be a stranded asset. And if so, what quantity? And my second question will be more accounting related regarding EVBox. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. Our environment is changing. We will run processes. First, we recorded significant impairments mainly driven by the 2.9 billion nuclear impairment caused by the change in lifetime assumption for Belgian nuclear reactors as well as by changes in the commodity price scenario. In her efforts to "simplify" Engie, MacGregor is moving from 25 business units to 4 globally, and . 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. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. 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. Pascal Frings., Assistente de Planejamento e Controle I | ENGIE Brasil | Gesto de Frotas | Logstica | Atendimento ao Cliente | Administrao Estcio, Bizarre, je suis un employ d'Engie et je n'ai pas reu , I am really very Happy after Hearing that Engie is going to make strong and strong renewable resources that makes to process competency of whole work which is going on this projects as i would proudly feel good i wish if you have any vacancy in the Engie organization i would definitely prefer to work this organisation as my last experience were quite satisfactory in Allied Maintenance Company Pvt Ltd at Tabuk Project in Saudi Arabia even i was working two years as store supervisor in Tabuk Projects i forwarded my resume to one of your recruiter for store supervisor as i have 12 years experience in the maintenance Departments like Civil, Plumbing, Mechanical,HVAC, Gardening, Cleaning and most importantly PGP Department. And part of this feedstock sometimes continue to rely on coal. No, absolutely. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, 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. In 2020, most of our newly commissioned assets were onshore wind followed by solar. The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. And when we reflect about some of the trends around electrification, around the growth in renewables, we realize that flexibility, dispatchability are going to be very important to the future of the energetic mix. But in short, we have big ambition, but we will be disciplined. Onshore wind can be 1.5 years. And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. So our main working scenario right now is that it wont happen. #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE. Catherine was President of Technip Energies at TechnipFMC, and President of Drilling at Schlumberger. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. And the answer is yes. Two questions from me. And so we have assumed a very strong recovery like we have seen it in the second half. Elle a t leve au Maroc[1]. Net recurring income group share was in line with guidance but at the bottom end of the range. Offshore wind is typically much longer. And maybe Ill just say a few things, and Ill pass on to Judith, just to say that the Client Solutions project is a big project. Were going to really focus on a few geographies. This button displays the currently selected search type. On quick one on numbers, on guidance. 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. Catherine MacGregor a t dcrite positivement par d'anciens collaborateurs: des articles de presses rapportent des propos qui la dsignent comme une personne trs simple aux loisirs sans surprise (cinma ou scrabble)[1], directe, mthodique, tenace, trs oprationnelle[4], humble et courageuse[3], efficace, mais elle sait couter (Thierry Pilenko)[2]. We support credit card, debit card and PayPal payments. Lemjed Bouzekri Thuli MOLOTO Bhupendra Singh Francisca Iturrieta Amadori Berivan Szgn, So pleased that people liked my post on trim tabs. Premium access for businesses and educational institutions. We had 1.2 billion total impact last year. We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. And maybe more importantly, where do you see subsidiary in five years and what it could contribute to your P&L considering the potential growth of these assets? Many thoughtful leaders throw up their arms when it comes to taking action on climate change, thinking, understandably, that their company is just a drop in the bucket. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . 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. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. So when you will reinvest? Okay. Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. Sure. We have a strong position in Brazil, in Peru, in Chile. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. That will put pressure on Ms MacGregor to make her mark . Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. From November 1st DN Media Group is responsible for controlling your data on Recharge. Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. She has spent her entire professional career working in the energy sector. What is the identity of the Thermal business? 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. It mainly affects our renewables and supply activities. 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We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. The first one regarding the network convergence. Comptences clefs . Regarding the organizational simplification, you mentioned complexity of the group. Alongside renewables, we are also developing projects of up to 3 gigawatts of gas-fired generation. Estabelecer as diretrizes legais e normativas para incentivar a contratao de pessoas com 50 anos ou mais nas organizaes privadas atravs da reduo de impostos sobre a folha destes empregados. So hopefully, this helps. I think we are now about time, so I would like to thank you for your attention. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. 2020 was really a milestone year for ENGIE in the U.S. with nearly 2 gigawatts of this new capacity commissioned across four states, taking our total installed renewable generation there to over 3 gigawatts. And Im sure thats a question youve been reflecting on as you took up the new role. Enel nearly tripled, Orsted quadrupled. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Hopefully you can also take this into account? And so every year, we will allocate capital to that, and thats 1.3 billion a year. We use cookies in a variety of ways to improve your experience, such as keeping NHST websites reliable and secure, personalising content and ads and to analyse how our sites are being used. But we really want to focus on a return-based growth strategy. 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. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. 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. Obviously, we have made the decision to exit the coal, which is run under Thermal. Welcome to the sector, indeed. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. I will try and stick to two questions, too. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. 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. Biography. 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. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! Let me now focus on the evolution of net debt and on our leverage ratios. organisation 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. We expect EBITDA to be in the 9.9 billion to 10.3 billion range, COI to be in the 5.2 billion to 5.6 billion range, and net recurring income group share to be in the 2.3 billion to 2.5 billion range. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. She occupied a number of roles in various geographies (Republic of Congo, the US, Malaysia, ): from Director of Business Entities (Wireline, Reservoir Characterization, Drilling, ) to Regional Division (Europe and Africa). Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. Non Madame If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. We support credit card, debit card and PayPal payments. It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. And Im going to pass it on to Judith now for the COI details on Renewables. De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. Check if your We have made the decision to stop the work to prepare for this such an extension. Iberdrola shares nearly doubled. 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. university Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. Thank you very much, Aarti, and good morning, everyone. Thats one thing. 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. This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. And on gender diversity, we maintained 24% women in management of the group, and this must continue to be an area of focus for us in the coming years. And how quickly do you think it can actually contribute to your earnings, please? For cost savings, you can change your plan at any time online in the Settings & Account section. And what is your philosophy there? And then just another one on guidance. 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. 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. We will now take the next question from Rob Pulleyn with Morgan Stanley. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ To read more about DN Media Group, In other words, direct stable energy is needed these hours. This was linked to a recovery of past energy costs, following the agreement on renegotiation of hydrological risk, which was finalized at the end of 2020. Maybe some thoughts. 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. You can update your choices at any time in your settings. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. 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. The issue of having mtiers and activities that are so different from each other and I think weve talked a little bit about the multi-technical services, as an example, that require a management focus, a capital allocation policy, a system and attention to every cent that you have to spend, which is not necessarily something that is ENGIE DNA. So no impact there, of course, on G&A reduction and about 800 million of assets. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. And I was very pleased to hear that you put simplification at the center of your new vision for the group. So its a huge project. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. organisation Recharge is part of DN Media Group. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. So thats a positive. The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. Thats really clear. Net interest expense was also slightly higher driven by negative FX and lower cash remuneration. Recharge is part of DN Media Group AS. So Ill ask two questions. And Judith, you want to comment, please, on the impairment? Good morning, everyone. Now its a little bit difficult for me to really be critical about the past. Now the markets are looking at the remaining energy services. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. Then rapidly followed: "what am I gonna use that for ? Judith? #solvaylife #futureemployees #career #mockinterviews, Bringing some sun and fun to the Solvay Alpharetta site in February, employees and friends enjoyed an Hawaiian themed luau complete with ukulele music from Jason Chung and Ryan Carey. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. Yes. Its been a period in which the sector was exceptionally strong. Price is going up. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. Siga o link abaixo e deixe seu apoio a esta poltica de incluso necessria ao nosso pas. So these are some of the things that we are excited about when we think about our network assets, and we like it. Because there was a time when that business was making around 600 million of COI. And Judith will give you a little bit of the background and more details on the rest. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. And I just wanted maybe to clarify that the government has not explicitly made the decision. 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. In Nuclear, we expect contribution to increase as volumes should be higher, thanks to better availability. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. If you have an ad-blocker enabled you may be blocked from proceeding. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Yes. And weve announced that there might be a second step, but we will obviously cross that bridge when it comes to it. Stepping back. 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. What you would be looking for? Thank you Renata Spada for being yourself and authentic. This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. My first reaction with the bonus: Wow great ! Next, a few words on the bridge from EBITDA to net recurring income group share.