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. So firstly, theres step-up in CapEx in 2021 versus your sort of prior 10 billion 3-year plan. 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. 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. 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. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. French utility's new chief Catherine MacGregor to increase investment in renewables. 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. 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. We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. #mixedfeeling :D Other generators like Uniper and Fortum have been very strong as well. So I think this is a key point Id be interested in. You may change or cancel your subscription or trial at any time online. Find here the list of all the sessions presented by this speaker in order not to miss any of it. PDF CATHERINE MACGREGOR Directrice Gnrale - Engie - Play an important role in ensuring security of supply for France and Europe We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. I think the team has done, so far, a really nice job. In France, we continued to invest into the gas smart meters rollout. And Im sure thats a question youve been reflecting on as you took up the new role. In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. 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. Let me know below Catherine MacGregor | 2021 Most Powerful Women International | Fortune On the 100 million, quite frankly, there isnt any unusuals that you should assume. It is important to say that our renewables growth ambition is not about entering a gigawatt race. For example, we significantly enhanced our renewables footprint in the U.S. And my second question will be more accounting related regarding EVBox. 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. 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. Elle travaille pendant 23 ans chez Schlumberger. Okay. 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. About Catherine MacGregor MacGregor became the CEO of French energy company Engie in January 2021. Aarti Singhal - Director of Investor Relations. Regarding the organizational simplification, you mentioned complexity of the group. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. 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. We invested 1.5 billion growth CapEx in 2020, mainly in Brazil, on power transmission lines and for the acquisition of the remaining 10% in TAG. 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. Its been a period in which the sector was exceptionally strong. 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. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. But just one observation is a key part of success, I think, for some of your peers has been laying out quite detailed guidance over a 3-year period. And Ill turn to Judith maybe for the cash flow from Nuclear. 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). As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. The second half showed a clear recovery with less stringent confinement measures but also with improved processes and protective equipment for our teams. For a full comparison of Standard and Premium Digital, click here. On the renewables COI for 2020 of about 1.1 billion, basically, you can assume that the main contributors were hydro and wind, hydro about 700 million of that and wind was the rest. So lots of enthusiasm around renewable. Keep abreast of significant corporate, financial and political developments around the world. #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). Yes. commentary and analysis you can trust. We use And so the amount will be much lower than what you have seen in 2020. 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. 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? Thats one thing. Net income group share stood at negative 1.5 billion. 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. We think, in general, gas is going to be important in this energy transition. Net interest expense was also slightly higher driven by negative FX and lower cash remuneration. Now that makes me and that makes the team, obviously, extremely motivated and optimistic that we are going to get the benefit from these tailwinds because, as a team, we are extremely focused in making sure that we do outperform, and outperform our peers, outperform the market. The current total coupon of 100 million per year has been reduced by 28% since 2017. #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. Here's a bit more, on climate change and from a few years ago, but still relevant. I will now hand you back to Catherine for our 2021 priorities. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. Pay my electricity bill of next year. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. For cost savings, you can change your plan at any time online in the Settings & Account section. La dernire modification de cette page a t faite le 22 fvrier 2023 19:40. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. Engie board set to appoint Catherine MacGregor as new CEO Okay. January 7, 2021. French Networks had limited COVID impact also mainly on distributed gas volumes. We have also good fleet in Middle East and also Latin America. According to the IEAs latest sustainable development scenario, in Europe alone, energy from biomethane and hydrogen could potentially grow three times from 2019 levels to over 300 terawatt hours in 2030. Ill start maybe with, again, the second one on renewables. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. All options considered for Engie's services business sale-CEO I would love to hear from you. Simply log into Settings & Account and select "Cancel" on the right-hand side. What are you looking at? I think there was another question, which was related to the calendar. So maybe I will start with your last question, which is around the decision on nuclear. However, the gross COI evolution was negative 125 million mainly due to foreign exchange. And then the second one, its for Catherine. From November 1st DN Media Group is responsible for controlling your data on Recharge. These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. The second half of 2020 showed a strong recovery after second quarter, which has which was heavily impacted by COVID. And Im going to pass it on to Judith now for the COI details on Renewables. 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. Premium access for businesses and educational institutions. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. And I was interested to get your philosophy about minorities. 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. The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. When we mentioned the 2 billion of additional disposal to drive simplification, the topics you know about, of course, the strategic reviews that we have announced. Our group remains committed to Belgium and to contributing to the countrys security of supply. 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. Hopefully, thats an easy one, but would be very helpful. The commitment and mobilization of all our teams at ENGIE is truly exceptional and it is an honor to be a part of such a dedicated and forward-thinking organization! If so, do you have a view to what level? So I would like to hear your opinion, how maybe your story might be slightly different from electric renewables players, how we maybe think about the gas network as a funding option for the renewables growth. 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. We also benefited from higher contributions of GTT thanks to a strong past order intake. Every Friday at a quarter past 10, the fire alarm. In terms of geography, we have a strong hold in Europe. 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. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. On the following slide, Ill share our 2021 expectations for each business line. Thank you, Sam, for this question. Next, a few words on the bridge from EBITDA to net recurring income group share. Katherine MacGregor - Biography 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. At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. Weve proven that over and over again in very, very recent past. 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. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. A very fine, humane gesture that you promised your ENGIE colleagues. And thats really the key part of what we do. . In 2020, most of our newly commissioned assets were onshore wind followed by solar. We will now take our next question from Peter Bisztyga with Bank of America. Let me give you the 2020 COI highlights. So Ill ask two questions. The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. 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. And then just another one on guidance. #buckminsterfuller #trimtab #climatechange. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. And so to in that respect, I think your comment might be valid. Im Aarti Singhal, Director of Investor Relations at ENGIE, and welcome to our 2020 annual results conference call. This is value neutral over time as D&A is integrated in the regulated revenue. And how quickly do you think it can actually contribute to your earnings, please? https://lnkd.in/ea25krWt 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. This was mainly due to impairments, especially related to our nuclear reactors. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. We do believe that its important to keep return in mind whenever we bid, and there is no must-win auction in ENGIE. https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. And in terms of the supply, were really expecting supply to recover mainly from less COVID impacts, also looking at the temperature, which will improve. 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. These factors, together with a track record in decentralized infrastructure and a fast-growing position in renewable gases, means we are very well placed indeed. Premium access for businesses and educational institutions. Select Accept to consent or Reject to decline non-essential cookies for this use. [1] She started her career on stage in New York City, in theatres off and on Broadway, credited as Scottie MacGregor . 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.