And so every year, we will allocate capital to that, and thats 1.3 billion a year. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. In her efforts to "simplify" Engie, MacGregor is moving from 25 business units to 4 globally, and . It will also require some infrastructure, maybe not with the same density at todays gas network. One is, of course, to participate in the future growth that we are projecting for this company; and second, of course, the close link into this space, which is a very important space for us. I think thats clearly something the market will be expecting there. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. Together, let's continue to make a difference! In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. So no specific things to be taken into account. Let me now turn to our ESG performance. 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. This change led to an impairment, which Judith will cover shortly. Elle travaille pendant 23 ans chez Schlumberger. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. 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. And while were not going to grow it at the same rate as Renewables and Networks, we will be opportunistic in managing this fleet. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. Pour les articles homonymes, voir MacGregor. You may now disconnect. We want to develop and further our differentiation. Elle a t leve au Maroc[1]. Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Now the markets are looking at the remaining energy services. And I just wanted maybe to clarify that the government has not explicitly made the decision. We will now take our next question from Sam Arie with Union Bank of Switzerland. 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. Indeed, you can expect positive cash flow operation from our nuclear activities. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. But is it bad? And then the second one, its for Catherine. We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. And Ill turn to Judith maybe for the cash flow from Nuclear. So all of the work that we started last year and that we are doing as part of this consultation is to bring these activities into a coherent entity, and this is really happening now with a commonality in terms of mtier, activity type, expertise, purpose and also industrial project. Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. 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. Thats really clear. Let me now focus on the evolution of net debt and on our leverage ratios. [Foreign Language]. I have proper control over all inventory department with the skill of my Minimum and Maximum stock levels, Gerente Industrial | Gesto de Operaes e Servios | Supply Chain | Engenheiro de Produo | leo e Gs | Suporte Tcnico | Produo | Gesto da Qualidade, Pessoal, eu criei esta Proposta de Ideia Legislativa no Senado Federal que se transformada em lei criar as Poltica Nacional de Incluso das Pessoas 50+. CFFO was 7.1 billion in 2020, down 500 million versus 2019, mainly driven by the following effects. Does this mean that Equans is now getting nothing? Judith, you want to start with the EVBox question? These negative effects were partially offset by the positive GFOM ruling in Brazil of approximately 165 million. 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. ENGIE thanks you for your participation. 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 Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. And how quickly do you think it can actually contribute to your earnings, please? Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. So its a huge project. Because there was a time when that business was making around 600 million of COI. 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. And the second one, if I may ask, around Client Solutions. At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. And as in the past, we will be very mindful of timing. So yes. Is it something that could be you realize value of and take advantage of low rates? In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. To read more about DN Media Group, Anyone whos keen to learn more about the topics that are currently driving our industry is more than welcome to attend the event! Okay. currently to 4 GW p.a. We delivered for our customers while continuing to invest in major capital projects. cookies Elle est alors nomme prsidente New Ventures de TechnipFMC. Biography. 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. The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. And Im going to pass it on to Judith now for the COI details on Renewables. 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. Ladies and gentlemen, this concludes this conference call. This really has two reasons. The enshittification of apps is real. 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. Is it something that you will tell us more about in May? There are 25 older and 1 younger executives at ENGIE SA. Standard Digital includes access to a wealth of global news, analysis and expert opinion. But that brings me to my question actually. [indiscernible] Sam, for putting more pressure on us. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. 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. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. Two questions from me. Biography [ edit] We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. (Tech. Maybe some thoughts. Vocs conseguem nos apoiar? Please disable your ad-blocker and refresh. Maybe I will start with your second question, which relates to the coal used in DHC. 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. Sure. 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? 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. is its Ocean Winds joint venture with EDPR. Elle travaille pendant 23 ans chez Schlumberger. 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. Read more about DN Media Group here. Precisamos de 20.000 apoios para que a ideia se transforme em lei. Long-time Schlumberger executive to join next year as French utility giant gears up in renewables. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. So Paulo, Ccile, Edouard and Sbastien will be obviously leading this organization effort, which I very, very much look forward to, indeed, seeing simplified over the coming months. Standard Digital includes access to a wealth of global news, analysis and expert opinion. In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. Indeed, we had an increase a temporary increase in 2020 to 32.5%. 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. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Catherine MacGregor est elle-mme mre de deux filles 2 . 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. So lots of enthusiasm around renewable. And weve made some moves last year, and we will continue to do that. 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. 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. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. So no impact there, of course, on G&A reduction and about 800 million of assets. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. Significant growth is also expected in the use of renewable gases to accelerate the energy transition. Catherine MacGregor est elle-mme mre de deux filles[2]. And I think the way I want to say this is I think we know the broad plan now for the business, but I think its also important to look back at the last 5 years and understand why essentially the investment thesis has not delivered so far for shareholders. With our strong local presence in key geographies and leading capabilities across the power generation value chain, including in energy management, which is a key for commercializing renewable energy, we are confident in our ability to drive long-term value creation from this renewables growth. So two questions, please. As CEO of ENGIE, I am particularly proud of what we have achieved with our teams. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. As always, my team and I are here to assist you, so do please reach out. So the 150 million I gave is correct. What are you looking at? ENGIE is a major player in the energy sector, and we are extremely well placed to tackle most of the challenges posed by this transition. Have a nice day. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. Were very pleased. You mentioned the COVID impact and how to think about it in 2021. But on defining the structure, does that mean we have a disposal in Q3, Q4? Some others, there is still a good portion of assumption that there might be a stranded asset. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. Pascal Frings., Assistente de Planejamento e Controle I | ENGIE Brasil | Gesto de Frotas | Logstica | Atendimento ao Cliente | Administrao Estcio, Bizarre, je suis un employ d'Engie et je n'ai pas reu , I am really very Happy after Hearing that Engie is going to make strong and strong renewable resources that makes to process competency of whole work which is going on this projects as i would proudly feel good i wish if you have any vacancy in the Engie organization i would definitely prefer to work this organisation as my last experience were quite satisfactory in Allied Maintenance Company Pvt Ltd at Tabuk Project in Saudi Arabia even i was working two years as store supervisor in Tabuk Projects i forwarded my resume to one of your recruiter for store supervisor as i have 12 years experience in the maintenance Departments like Civil, Plumbing, Mechanical,HVAC, Gardening, Cleaning and most importantly PGP Department. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE. De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. The first one is on strategy. We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. So our main working scenario right now is that it wont happen. Okay. 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. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. Networks were mainly impacted by warm temperatures and by higher D&A. This was notably due to the discounting of liabilities related to hydro concessions in Brazil that are indexed to inflation and which increased significantly in 2020. Some of your peers there have convinced the market that they transitioned to hydrogen. Before I share my view on 2021, here are our 2020 financial highlights. And Judith will give you a little bit of the background and more details on the rest. And I think, namely complexity is one thing. We continue to develop these activities, including through an acquisition of the worlds largest district cooling scheme in Dubai, allowing us to increase our DHC net installed capacity by 9%. She was in charge of the entitys IPO. 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. Now the guidance for 2021. 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. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. We will now take the next question from Meike Becker with Bernstein. 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. So for my question, the first is on the asset rotation. I'm looking forward to continuing to make a difference together. In Nuclear, following the announcements of the Belgian government in Q4 2020, it has been decided to stop all preparation works that would allow a 20-year extension of two units beyond 2025, as it seems unlikely that such an extension can take place given the technical and the regulatory constraints. Compare Standard and Premium Digital here. Thank you very much, Aarti, and good morning, everyone. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. Officer of ENGIE SA since . organisation We will now take our next question from Emmanuel Turpin with Societe Generale. 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. La dernire modification de cette page a t faite le 22 fvrier 2023 19:40. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. Notre lectricit est dj propre Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. 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. And so our thermal fleet has a very, very important role to play there. So these are some of the things that we are excited about when we think about our network assets, and we like it. So 25% of your business is in Thermal, and its an area that youre not particularly resting hugely behind if you look at the growth CapEx numbers. I guess, whats the kind of your average period of sort of non-productive capital work in progress? Our group remains committed to Belgium and to contributing to the countrys security of supply. We have a very nice digital platform to help us manage our assets better. In that entity that we are forming, which is the object of the consultation weve talked about, there will be 34,000 roughly 74,000, sorry, 74,000 people. This will mean a transition based on a combination of electrification and decarbonization of gas as well as on the development of flexible and resilient energy systems. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. And sorry, just a follow-up on the CapEx. But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? So that is roughly what you have to have in mind. 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? 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. So again, when you think about the business and the need to have a resilient power system, gas has actually a very critical role to play. Judith? Nothing much more structural than that really, James, on supply improvement. And as you might have noticed that lately, we have not really entered the race of enhancement of gigawatt. Current positions of Catherine MacGregor French utility's new chief Catherine MacGregor to increase investment in renewables. This is one of the largest renewable PPAs signed with an industrial group in Belgium and demonstrates the growing appetite for PPAs from a broader range of customers. This very unusual year translated into a mixed set of numbers. And I suppose when we see you planning a CMD in May, I think lot of us are hoping that youll be able to do something similar at the May event. ENGIE is a major player in the energy sector, and we are extremely well placed to tackle most of the challenges posed by this transition. I think there was another question, which was related to the calendar. Find here the list of all the sessions presented by this speaker in order not to miss any of it. university Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. 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