(Tech. So for my question, the first is on the asset rotation. Catherine MacGregor est elle-mme mre de deux filles 2 . Okay. Engie board set to appoint Catherine MacGregor as new CEO. I will now hand you back to Catherine for our 2021 priorities. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. So we feel very good about [indiscernible]. [indiscernible] Sam, for putting more pressure on us. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. And so were keeping 40%. And moving now to our international networks, where we are leveraging the deep networks experience we have in Europe. Yes. This really has two reasons. We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. Catherine MacGregor a rejoint le groupe ENGIE le 1. er. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. So its a huge project. Stepping back. I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. And if so, what quantity? Price is going up. She was in charge of the entitys IPO. Officer of ENGIE SA since . We expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. 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. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. And still on the asset rotation, this leaves you probably, I dont know, 12 billion of total proceeds, maybe overall when we put everything all together. Iberdrola shares nearly doubled. , Dear Catherine, Revenue declined on a gross basis by approximately 900 million for the full year. And then I also had a question on the coal phase out. 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? Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. Pour les articles homonymes, voir MacGregor. Now its a little bit difficult for me to really be critical about the past. She has managed numerous complex industrial projects, both . 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. 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 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. Good luck with the new role, Catherine. Therefore, we do continue that we do think that gas will continue to play a very key role. 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. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. 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 can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. 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? Son profil de spcialiste, sa connaissance des enjeux oprationnels et des mtiers de l'nergie, son exprience internationale sont autant d'atouts pour le groupe In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. Aprs avoir t auditionne par les cabinets de recrutement Korn Ferry et NB Lemercier & Associs, elle est nomme directrice gnrale d'Engie le 2 octobre 2020, avec entre en fonctions le 1er janvier 2021. Thank you very much, James, for your question. Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line 2mo Glad to see all the progress. The enshittification of apps is real. Strong management actions allowed us to variablize and reduce total OpEx by approximately 300 million. No, absolutely. So I was wondering whether you could share some thoughts on perhaps where you might be able to get back to perhaps over the medium term in that business? The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? So two questions, please. So yes, Thermal is a good fleet for us, good asset. 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 have this 28 billion RAB, or regulated asset base, in France, which gives us this good visibility and predictability, which is a very nice complement to the renewable. 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. 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? Problem: 40% of the hours of the month there is minimum wind and zero sun. And lets now, indeed, look at our priorities for sustainable long-term value creation. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. And to this end, Im very pleased to announce our next event on the 18th of May, where Judith and I will cover both our Q1 results and provide you with a medium-term strategic plan and guidance. Ladies and gentlemen, this concludes this conference call. You can store it. And Im going to pass it on to Judith to comment maybe on the other questions. 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. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. For a full comparison of Standard and Premium Digital, click here. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. It's inspiring to see how ENGIE's strategy for a balanced, affordable, and resilient energy mix has proven its relevance in these uncertain times. Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. Moving to Networks, which were resilient despite the pandemic. Un article de Wikipdia, l'encyclopdie libre. 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. Our environment is changing. 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. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. 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. Welcome to the sector, indeed. So that is roughly what you have to have in mind. So youve been talking about investment discipline. Included within this guidance is an estimated impact that follows the extreme cold weather in Texas earlier this month. So no impact there, of course, on G&A reduction and about 800 million of assets. Jusqu' l'arrive de Christel Heydemann la tte d'Orange en 2022, elle est la seule femme la tte d'une entreprise du CAC 40[7]. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Euro erzielen. Her main mission was to prepare for the spin-off and IPO of Technip Energies, for which she put the energy transition at the heart of the strategy. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. And it would be helpful if you could highlight for us any meaningful one-offs embedded in the 2020 results, whether positive or negative that we should bear in mind as we build our bridge to 2021? Some of your peers there have convinced the market that they transitioned to hydrogen. It honors and commits me. Net recurring income group share was in line with guidance but at the bottom end of the range. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. 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. And so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. 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. Catherine MacGregor est elle-mme mre de deux filles[2]. Now the 2021 guidance. How quickly can that new CapEx sort of translate into earnings? Judith, you want to start with the EVBox question? And Ill turn to Judith maybe for the cash flow from Nuclear. This is particularly noteworthy in the context of the unprecedented pandemic. A graduate of the Paris cole Centrale (CentraleSuplec), Catherine MacGregor has spent her entire professional career working in the energy sector, including 23 years with Schlumberger, the world's leading supplier of technologies for characterizing, drilling, producing and processing reservoirs for the oil and gas sector. Our group remains committed to Belgium and to contributing to the countrys security of supply. 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? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? Before I say more on this, let me review the groups overall 2020 performance. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. The biggest, of course, remains Renewables. And the answer is yes. 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? Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. 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. Also on the same point, risking up or risking down in the future strategy, what is your view on how the risk profile for ENGIE should change going forward? So let me start then with your question on Thermal. We are assessing the situation, which mainly affects renewables and supply activities. And hopefully, we can share more of that in May when we come back to you. Thank you, Sam, for your welcome message and your welcome question. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. Areas of expertise ; https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ So when you will reinvest? Dans intrt de la France, Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? And Judith? 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. 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. In Latin America, COI was up significantly, driven by the scope in effect and higher organic contribution of TAG, which, Im very pleased to say, has outperformed our expectations. We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. Yes. For a full comparison of Standard and Premium Digital, click here. https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. 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. Catherine will then come back and share our priorities. Because there was a time when that business was making around 600 million of COI. Sign up for more in-depth articles and insights. #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE. Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. We have also good fleet in Middle East and also Latin America. Offshore wind is typically much longer. 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 also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. She is the only female CEO in France's CAC-40 stock index; French Finance Minister Bruno. French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. Indeed, we had an increase a temporary increase in 2020 to 32.5%. So thank you very much, and bye-bye. And that will be something that we will be describing a bit more in details in May. 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. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. on the development of flexible and resilient energy systems. And then, of course, now this partial sell down that were planning into a SPAC transaction. So maybe I will start with your last question, which is around the decision on nuclear. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. Catherine, the floor is yours. Please. We think, in general, gas is going to be important in this energy transition. Is it something that could be you realize value of and take advantage of low rates? [Foreign Language]. In other words, direct stable energy is needed these hours. Its a geography refocus. Regarding the organizational simplification, you mentioned complexity of the group. For example, we significantly enhanced our renewables footprint in the U.S. The enshittification of apps is real. We will run processes. Its, for sure, a large part of the investment case. But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. 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 .
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