catherine macgregor engie biocris williamson partner judy

And we will now take our next question from Vincent Ayral with JPMorgan. Thank you very much, Aarti, and good morning, everyone. 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. 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. Cheers! Let me give you the 2020 COI highlights. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. In other words, direct stable energy is needed these hours. Catherine MacGregor will join Engie as CEO. 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. Then potentially collaborate/partner with us for less than EUR 10 m in costs, together solving the crucially important 40% of the hours of the month. offers FT membership to read for free. We support credit card, debit card and PayPal payments. And Im sure thats a question youve been reflecting on as you took up the new role. Before that she had a 23-year career with oilfield services giant Schlumberger, ending as president of the drilling business. Were going to really focus on a few geographies. Catherine MacGregor - Biography - Contribute to measures to support purchasing power 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. All options for the sale of Equans, the newly-created services unit of French energy group Engie (ENGIE.PA), are being considered, including a possible listing, Chief Executive Catherine MacGregor . Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. So for my question, the first is on the asset rotation. #beyou #beunique #beunited ENGIE Africa Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. I am very pleased that Jrme Stubler, who has more than 30 years' experience in the construction industry, joined us recently and will be leading this important project. French utility's new chief Catherine MacGregor to increase investment in renewables. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. I guess, whats the kind of your average period of sort of non-productive capital work in progress? Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. I think thats clearly something the market will be expecting there. 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. So again, of course, I mean, it 2020 was heavily impacted. The reversal of a positive internal one-off from the fourth quarter of 2019 offset in supply as well as the first effect of the RAB remuneration rate decreases also contributed to this lower COI in France. Non Madame We have made the decision to stop the work to prepare for this such an extension. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. Now simplification is a bit of a general concept, and I was hoping for a bit more color from your part. So hopefully, this helps. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. Catherine MacGregor Net Worth (2022) | wallmine 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. Thats one thing. Were, in fact, very positive and excited about the opportunity of these businesses, very, very different from other more traditional mtier that we have in ENGIE, and the idea is really to form a very coherent entity, which Jrme Stubler is very busy doing right now. 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. We are a smaller company than Engie normally would partner with. The biggest, of course, remains Renewables. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. Simply log into Settings & Account and select "Cancel" on the right-hand side. She was in charge of the entitys IPO. 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. *Criao da poltica nacional de incluso das pessoas 50+ no mercado de trabalho* So maybe I will start with your last question, which is around the decision on nuclear. In addition to EVBox, we expect to execute disposals of around 2 billion, aligned with the group simplification. But is it bad? We do believe that its important to keep return in mind whenever we bid, and there is no must-win auction in ENGIE. Lastly, COI for other activities decreased as 2019 benefited from a positive one-off related to partial sale of a gas supply contract, in 2020 was impacted by COVID mainly due to credit losses for GEM. Pour les articles homonymes, voir MacGregor. No, thank you. Now the markets are looking at the remaining energy services. 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. Okay. We have a strong position in Brazil, in Peru, in Chile. But on defining the structure, does that mean we have a disposal in Q3, Q4? Standard Digital includes access to a wealth of global news, analysis and expert opinion. 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. Obviously, well give you more color on our ambition on renewables in May. Energy Solutions: we won major contracts in district heating and cooling networks but also in #greenmobility, notably with 5600 charging points for electric vehicles in Belgium 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? These positive effects were partly offset by lower volumes mainly due to a decrease in availability of our Belgian assets caused by the last planned LTO maintenance works on Doel 1, Doel 2 and Tihange 1. Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. 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. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. 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 . This included 4 billion of growth CapEx, almost exclusively in our areas of strategic growth with approximately 40% in renewables, 40% in networks, and 15% in asset-based Client Solutions. In France, we continued to invest into the gas smart meters rollout. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. 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. Hopefully, thats an easy one, but would be very helpful. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. En 2020, elle est pressentie pour diriger Technip Energies, une socit en cours de cration base Paris d'environ 12000personnes issue de la scission de TechnipFMC en deux entits spares. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. 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. This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. In terms of geography, we have a strong hold in Europe. Net recurring income group share was in line with guidance but at the bottom end of the range. 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. This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. Catherine will then come back and share our priorities. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. We are a media company, specifically facilitating the maritime and offshore industry. This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. We are assessing the situation, which mainly affects renewables and supply activities. Judith? And my second question will be more accounting related regarding EVBox. De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. COI was adversely impacted by roughly 300 million due to foreign exchange and by an aggregate negative scope effect of 75 million. The Board of Directors announces the appointment of Catherine MacGregor 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. 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. 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. We have a team of about 300 developers who are really good at what they do. On the strength of our shared industry culture and my operational experience, I will work with all of our teams to achieve our goal of enabling ENGIE to accelerate the energy transition.. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. So when you will reinvest? We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. Even if you ten-double the installations of these sources, the 40% remains. Let me know below Thank you very much, James, for your question. 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. So there will be a capital gain on this. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. Now the 2021 guidance. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. We have also good fleet in Middle East and also Latin America. Yes, two topics that you were talking about, Peter. 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. All these strategic advances, which place our Group as a leader in the low-carbon transition, are the result of the exceptional commitment of all our teams! These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. 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. Were very pleased. Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. So thank you very much, and bye-bye. Yes. 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. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. #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. These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. And second, its really focused and making sure that everybody pulls in the same direction. The 281 million year-on-year COI decrease notably reflects warm temperatures and higher D&A in France. Now that doesnt mean that we should not have discipline. We will run processes. These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. These headwinds were partly offset by a 700 million positive change in working capital requirements from energy management activities driven by dynamic management of margin calls in 2020 in a context of extreme volatility of commodity prices. COVID weighed particularly heavily on Client Solutions and on Supply. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. Its a geography refocus. 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. We will make sure that we get the right price. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. Turning to an update on the strategic review of part of our Client Solutions business that was launched in the second half of last year. 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. Yes. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. 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 . So without going into any specific, youre right to say that it does contribute to the simplification efforts. So the 150 million I gave is correct. Ms MacGregor, an engineer by training who was born and raised in Morocco, will start in the CEO job on 1 January 2021, taking over a company that has been roiled over the past few years by a. And the second one is very bad timing. Is this happening to you frequently? Do you have a vision about taking this proportion of minorities down for the group? Thanks, everyone, for your welcome message and very much look forward Judith and I very much look forward to meeting you, extending with you in the future and again, very, very excited about turning those tailwinds that ENGIE has had into reality. 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. We expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. Select Accept to consent or Reject to decline non-essential cookies for this use. Its been a period in which the sector was exceptionally strong. Carbon neutrality is at the heart of ENGIEs purpose and central to our strategic direction. Together, let's continue to make a difference! Both include the construction of new substations and upgrades to existing substations and are expected to be commissioned in the second half of this year. And yes, let me start by saying also welcome and wishing you success in the new role. Onshore wind can be 1.5 years. Stay informed and spot emerging risks and opportunities with independent global reporting, expert We also suffer from the same crisis and have also contributed to this, especially in the Corona years. And Ill turn to Judith maybe for the cash flow from Nuclear. French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. We think its important to have a system play on renewables. And Judith, you want to comment, please, on the impairment? https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. 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 then, of course, now this partial sell down that were planning into a SPAC transaction. These projects further cement Masdars position as a leading clean energy powerhouse, helping Azerbaijan to unlock its tremendous clean energy potential. Let me now focus on the evolution of net debt and on our leverage ratios. And so to in that respect, I think your comment might be valid. H2, 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. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . 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. Catherine MacGregor - Forbes And then the second question is more for Judith. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. She occupied a number of roles within [] This button displays the currently selected search type. 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. Turning to our major focus areas starting with Renewables. But is it bad? 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. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Simply log into Settings & Account and select "Cancel" on the right-hand side. 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. personalising content and ads, providing social media features and to For cost savings, you can change your plan at any time online in the Settings & Account section. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. And so the number that I quoted, which was the injection that we did last year, you start to see that it becomes meaningful. 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. On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. You mentioned diversity of vast diversity of business line, et cetera. 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. Two questions from me. We will now take the next question from Rob Pulleyn with Morgan Stanley. A quick word on the agenda for this morning. analyse how our Sites are used. This is value neutral over time as D&A is integrated in the regulated revenue. [Operator Instructions] We will take our first question from James Brand with Deutsche Bank. And of course, hydrogen as it gets developed, indeed, could be very much more linked to power than maybe gas was in the past. 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. So can you be a little bit more specific about where the extra CapEx is being spent this year and how youve been able to ramp it up so quickly? And first question is for Catherine MacGregor. 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. The enshittification of apps is real. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. Could you clarify how much COVID impact youve included in 2021 relative to the 1.2 billion hit in 2020? https://waves-energy.co/maps/. Compare Standard and Premium Digital here. Aged 48 and a graduate of cole Centrale Paris, Catherine MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. analyse how our Sites are used. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. And then the second one, its for Catherine. university You can store it. We have some core competencies. 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. Check if your ENGIE has developed a strong platform in Client Solutions from which we can tap into the growth in this space. Again, especially when it comes to replace when it replace coal. So here, generally, the question, how do you think about the future of the gas networks? Catherine was President of Technip Energies at TechnipFMC, and President of Drilling at Schlumberger. In Networks, lower RAB remuneration rates in France should be offset by the reversal of 2020 warm temperatures as well as continued growth in Latin America. But ENGIE shares have gone, lets say, sort of sideways and even down a bit in that time. 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. We have a high performing gas fleet, as you know, which is very important in our mind to bring the flexibility to the system. France's Engie appointed an oil services executive to execute its strategy of refocusing the utility on renewable energy and grids, overlooking the internal candidate behind its new green strategy.. Engie said in a statement it had appointed Franco-American oil services firm TechnipFMC executive Catherine MacGregor as new CEO, effective Jan. 1, 2021. 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? Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. #buckminsterfuller #trimtab #climatechange. I would like to pay tribute to their mobilization, which has enabled us to: In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. I think on the question of network convergence between gas and power, I think were a bit obviously, different drivers behind this, one, which is the trend towards more electrification is something to stay. 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. Il serait pertinent de se concentrer sur l'aprs nuclaire, Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. Are you working on a new organizational format? This change led to an impairment, which Judith will cover shortly. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture.

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