CEO Affiliation Engie Country France 2020 Rank 13 In her first year as CEO of the giant French power company, MacGregor, an oil and gas industry veteran, focused on simplifying the $63.5. 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. Good luck with the new role, Catherine. We are assessing the situation, which mainly affects renewables and supply activities. organisation More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. 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. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. And so were excited about this transaction. So two questions, please. I think there was another question, which was related to the calendar. and other data for a number of reasons, such as keeping FT Sites reliable and secure, This was mainly due to impairments, especially related to our nuclear reactors. From November 1st DN Media Group is responsible for controlling your data on Recharge. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. "Until regulations happen," they muse, "there's really nothing I, or my company, can do to make a difference." So Ill ask two questions. On 14th of January, I announced a new executive committee, and Im very pleased that Paulo, Edouard, Ccile and Sbastien have started their new business roles. We also posted higher financial costs. Catherine MacGregor est elle-mme mre de deux filles[2]. And so were confident to be able to invest in lots of opportunities that Catherine talked about. Ses parents, d'origine corse et basque[1], sont professeurs. Welcome to the utilities world. 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. We have ambitious goals to continue to simplify ENGIE at pace to play a key role in accelerating the energy transition and to focus on the long-term profitable growth of the group. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. You mentioned the COVID impact and how to think about it in 2021. 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. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. We are a media company, specifically facilitating the maritime and offshore industry. I have a couple of questions, 1 for Catherine and 1 for Judith. Do you see eventually opportunities in the future going forward with the convergence between power network and gas network considering the evolution of the hydrogen, Catherine? This higher tax rate included notably the adjustment of carrying value of some deferred tax assets and the one-off effect of the tax rate change in the UK. You may change or cancel your subscription or trial at any time online. Let me now turn to our ESG performance. 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]. Regarding the organizational simplification, you mentioned complexity of the group. (Tech. We also benefited from higher contributions of GTT thanks to a strong past order intake. But in short, we have big ambition, but we will be disciplined. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. 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. On the following slide, Ill share our 2021 expectations for each business line. Estabelece ainda cotas 50+ proporcionais a populao para preenchimento de vagas no setor pblico. And what is your philosophy there? By Gwnalle Barzic and Geert De Clercq. How quickly can that new CapEx sort of translate into earnings? If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. #beyou #beunique #beunited ENGIE Africa Together, let's continue to make a difference! This is particularly noteworthy in the context of the unprecedented pandemic. analyse how our Sites are used. From 2013 to 2016, she also served as President Europe & Africa at Schlumberger, before being promoted in 2017 to President of the Drilling business, while based in London. Siga o link abaixo e deixe seu apoio a esta poltica de incluso necessria ao nosso pas. Before I say more on this, let me review the groups overall 2020 performance. Okay. Finally, on Client Solutions, we see a strong growth potential driven by decarbonization and energy efficiency, especially in heating and cooling networks, on-site generation, and green mobility among other asset-based solutions. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. Select Accept to consent or Reject to decline non-essential cookies for this use. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! Vocs conseguem nos apoiar? So let me start then with your question on Thermal. Precisamos de 20.000 apoios para que a ideia se transforme em lei. We have strict criteria, and we will stick to them. And thank you, Catherine, too, for your answer, which I think we all appreciate, and we wish you with that, just final comment from my side, then Ill turn it over. I think the team has done, so far, a really nice job. Catherine will then come back and share our priorities. 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. 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. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. 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. A quick word on the agenda for this morning. So we feel very good about [indiscernible]. In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. Est 53 centrales nuclaires qui vous donnent l'lectricit la moins chre au monde, COI decreased mainly driven by a 600 million impact from the pandemic. Have a nice day. And then, of course, right after that, you have hydrogen. Biography [ edit] Net recurring income group share was within the guidance range, and Judith will cover financial performance in more detail shortly. And that will be something that we will be describing a bit more in details in May. 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. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. And Judith, you want to comment, please, on the impairment? We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. Iberdrola shares nearly doubled. university We will now take our next question from Sam Arie with Union Bank of Switzerland. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. Theyre going into similar areas with Networks is an important aspect. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. And part of this feedstock sometimes continue to rely on coal. 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. And lets now, indeed, look at our priorities for sustainable long-term value creation. MacGregor said: I would like to thank the board of directors for the confidence it shows in me. Elle est alors nomme prsidente New Ventures de TechnipFMC. Recharge is part of DN Media Group AS. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. And as you might have noticed that lately, we have not really entered the race of enhancement of gigawatt. We also continued to benefit from the cost actions launched in the second quarter. Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. Okay. But time will tell. Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. And sorry, just a follow-up on the CapEx. The first one is on strategy. Thanks to Faye Kirby and Valencia Anderson for setting up the display and sharing books written by black authors. The final area of 2020 performance I would like to highlight is the groups continued progress in growing our renewable portfolio, which has grown significantly by 32% since the end of 2018. Its, for sure, a large part of the investment case. Price is going up. - Accompany our customers in their decarbonization strategies to face the climate emergency Ladies and gentlemen, this concludes this conference call. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. Delivering on decarbonization while ensuring reliability and affordability can only be achieved through a combination of centralized and decentralized solution and with a mix of energy sources. https://noviocean.energy/documents/ 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. Head of Core Laboratories US - Alpharetta Site Manager, Thanks to Solvay Alpharetta employees Michael O'Keeffe and Edna Carbajal for reaching out to students in Dawson county GA for their junior high school career fair and mock interview days. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. You certainly have a lot of people out here who want you to be very successful. 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. ENGIE thanks you for your participation. 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. on the development of flexible and resilient energy systems. Holidays ? 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. And so the amount will be much lower than what you have seen in 2020. You will remember last year, we had close to 200 million, which was really driven by 2 things or 2019, sorry, we had roughly 200 million, 2 things. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. Now simplification is a bit of a general concept, and I was hoping for a bit more color from your part. And we will now take our next question from Ajay Patel with Goldman Sachs. Stepping back. And then the second question is more for Judith. With respect to the recent extreme weather events in Texas, we are assessing the situation. First, you will hear from our new CEO, Catherine MacGregor, on the highlights of 2020, followed by our CFO, Judith Hartmann, on our financial performance. 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 in renewable energies and energy infrastructure such as cooling and heating networks. And so were keeping 40%. 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. 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. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Tout au long de cette priode, les quipes d'Elengy, Storengy - ENGIE, GRTgaz, GRDF Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de gaz a baiss de 6,2% en France en . 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. directrice gnrale d'un groupe industriel nergtique; 25 ans de services, Vincent Collen, David Barroux et Julie Chauveau, , Dcret du 31 dcembre 2020 portant promotion et nomination dans l'ordre national de la Lgion d'honneur, https://fr.wikipedia.org/w/index.php?title=Catherine_MacGregor&oldid=201657000, Portail:Biographie/Articles lis/Sciences, Portail:Biographie/Articles lis/Entreprises, licence Creative Commons attribution, partage dans les mmes conditions, comment citer les auteurs et mentionner la licence. And given that theyre contracted, to maybe accelerate other areas of the business? And Judith will give you a little bit of the background and more details on the rest. Welcome to the sector, indeed. On an organic basis, the business line saw 1% growth, which was a strong result considering that there were over 100 million of positive operational one-offs in 2019 from LDs on newly commissioned power plants in Brazil and Chile. 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. The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. A short stay for a rich experience and deep learning. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? 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. And I was very pleased to hear that you put simplification at the center of your new vision for the group. Its going to take us some time. And yes, let me start by saying also welcome and wishing you success in the new role. https://waves-energy.co/maps/. And weve made some moves last year, and we will continue to do that. So I think this is a key point Id be interested in. So first to reiterate on that, we are very pleased with our position on renewables, and we are leader in France. Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. Aarti Singhal - Director of Investor Relations. Yes. And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. 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. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, So hopefully, this helps. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? or Very yes, good question. Non Madame Now the guidance for 2021. Higher D&A was mainly due to accelerated amortization of some distribution assets. At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. 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. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. How old is Ms MacGregor? Premium access for businesses and educational institutions. Keep abreast of significant corporate, financial and political developments around the world. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. Lets now move to Thermal, which was impacted by scope and FX, notably, 90 million of disposals mainly in Thailand and close to 40 million negative FX impact. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. Thats one thing. Let me know below #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. We are a smaller company than Engie normally would partner with. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Battery storage is expensive, produces no net power, has a very high LCA and basically impossible at the needed grid size. 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And so to in that respect, I think your comment might be valid. Maybe some thoughts. 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. Thank you, Sam, for your welcome message and your welcome question. We have a high performing gas fleet, as you know, which is very important in our mind to bring the flexibility to the system. 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. The enshittification of apps is real. She occupied a number of roles within [] You may change or cancel your subscription or trial at any time online. Let me start with your second question, and then I will hand over to Judith, who will go through the details of the impairment impact, if you dont mind, Rob. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. 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. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. On the 100 million, quite frankly, there isnt any unusuals that you should assume. The biggest, of course, remains Renewables. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. offers FT membership to read for free. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages.