In France, we continued to invest into the gas smart meters rollout. Catherine MacGregor | 2020 Most Powerful Women International 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. 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. And sorry, just a follow-up on the CapEx. 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. 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. 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. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. 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. Very yes, good question. And I just wanted maybe to clarify that the government has not explicitly made the decision. We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. Catherine, the floor is yours. And this is something, obviously, that we are going to continue and push. 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. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. Offshore wind is typically much longer. Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! Organically, these evolutions were slightly better. 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. Standard Digital includes access to a wealth of global news, analysis and expert opinion. To this end, we expect to invest between 5.5 billion to 6 billion growth CapEx, with over 90% of this in renewables, networks and asset-based client solutions. We also benefited from higher contributions of GTT thanks to a strong past order intake. This was mainly due to impairments, especially related to our nuclear reactors. We think its important to have a system play on renewables. 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. 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. Catherine MacGregor is currently Chief Executive Officer and Director at Engie - View - Engie org chart Create your alert to follow the career of Catherine MacGregor. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. Lets now move to our Supply, Nuclear and Other activities. And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. Now turning to Networks. You can update your choices at any time in your settings. Together, let's continue to make a difference! 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 one of the things to keep in mind, when you say how can you speed up is also that we have less sell downs in Renewables in 2021. 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. Yes. Judith, you want to start with the EVBox question? 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. organisation And Judith, you want to comment, please, on the impairment? For example, we signed several corporate PPAs with Amazon for a 650-megawatt global portfolio of wind and solar projects across the U.S., Italy and France. Let me now turn to our ESG performance. 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. But on defining the structure, does that mean we have a disposal in Q3, Q4? analyse how our Sites are used. Depending on opportunities, it could be this asset or another one. 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. Simply log into Settings & Account and select "Cancel" on the right-hand side. 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. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. Our near-term priority in the region is to commission two major electricity transmission projects. 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. CEO - Engie. Curious as to what my Linkedin connections think. 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. You can store it. Thank you. or https://waves-energy.co/maps/. Bereits 2025 wolle Engie wieder einen Gewinn von bis zu 4,7 Mrd. Premium access for businesses and educational institutions. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . And I was very pleased to hear that you put simplification at the center of your new vision for the group. And I was interested to get your philosophy about minorities. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. And we will now take a last question from Louis Boujard with ODDO. 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. 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. Hydro had a strong increase organically but was down from a growth perspective because of the FX, of course, in the Brazilian real, and wind was an increase for the obvious reasons because we have been investing quite significantly in the past few years. What is the identity of the Thermal business? That's where the "trim tab" comes in. A cycle, of course, could be 3, 4, 5 years depending on the country. And Im sure thats a question youve been reflecting on as you took up the new role. Select Accept to consent or Reject to decline non-essential cookies for this use. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. or But is it bad? 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. ENGIE SA (ENGIY) CEO Catherine MacGregor on Full Year - SeekingAlpha Catherine MacGregor - Biography 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. On the other hand, we, obviously, want stability in a power system. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. 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. Im Aarti Singhal, Director of Investor Relations at ENGIE, and welcome to our 2020 annual results conference call. The enshittification of apps is real. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. Is it something that you will tell us more about in May? 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. So I think this is a key point Id be interested in. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. In addition to this strong organic growth, we also added 2 gigawatts through acquisition of operating assets. How quickly can that new CapEx sort of translate into earnings? Yes. So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. #mixedfeeling :D We have progressed on simplifying the group. This change led to an impairment, which Judith will cover shortly. 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. You may change or cancel your subscription or trial at any time online.
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