And the second one is very bad timing. The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. You can update your choices at any time in your settings. I mentioned earlier two things actually. Very yes, good question. I would say that some of the things that were decided last year with these strategic orientations, I am very, very convinced that well address some of the shortfalls that can explain some of the ENGIEs underperformance in the past few years. And as in the past, we will be very mindful of timing. Ms MacGregor is 48, she's been the Chief Exec. So we really have some really nice differentiation that we want to use in order, for sure, to be competitive but without sacrificing the return. Katherine MacGregor (born Dorlee Deane McGregor; January 12, 1925 - November 13, 2018) was an American actress, best known for her role as Harriet Oleson in Little House on the Prairie. Okay. 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. 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. Judith? #beyou #beunique #beunited ENGIE Africa The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? You can store it. So really, in summary, three elements: complexity, sharper capital allocation, everybody pulling in the same direction and performance culture are three important elements, I think, that are going to make a difference and allow ENGIE, indeed, to strive in those strong tailwinds that continue to be there for us. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. The second half showed a clear recovery with less stringent confinement measures but also with improved processes and protective equipment for our teams. We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. Compare Standard and Premium Digital here. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Alongside renewables, we are also developing projects of up to 3 gigawatts of gas-fired generation. But now that we have officially become Equans for a few weeks, this message that all ENGIE employees worldwide will receive a bonus of 1500,- comes as a disappointment. Were very pleased. Yes, two topics that you were talking about, Peter. She has spent her entire career in the energy sector. To Engie in my case. We expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. We will now take the next question from Rob Pulleyn with Morgan Stanley. Yes. So there will be a capital gain on this. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. We support credit card, debit card and PayPal payments. So on EVBox, were very happy to have announced this transaction. The enshittification of apps is real. On the following slide, Ill share our 2021 expectations for each business line. offers FT membership to read for free. So thats a positive. Curious as to what my Linkedin connections think. 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. In this uncertain environment, ENGIE's strategy for a balanced, affordable, and resilient energy mix has proven its relevance and we have stayed on track! 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. 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. 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. fusion, Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. 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. 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. And so were confident to be able to invest in lots of opportunities that Catherine talked about. Dans le SBF 120, on y trouve en tout 13 femmes DG et 12 . So yes, Thermal is a good fleet for us, good asset. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. Thank you. 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. And Im going to pass it on to Judith to comment maybe on the other questions. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. She was in charge of the entitys IPO. We will make sure that we get the right price. In Nuclear, we expect contribution to increase as volumes should be higher, thanks to better availability. But the idea is that for the big production projects, we will give the Thermal people and the Thermal team, the responsibility to run those hydrogen production plans and projects because some of the skills are actually quite similar. Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. 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. 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 . G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. These factors, together with a track record in decentralized infrastructure and a fast-growing position in renewable gases, means we are very well placed indeed. 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. And sorry, just a follow-up on the CapEx. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. 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. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. Carbon neutrality is at the heart of ENGIEs purpose and central to our strategic direction. About Catherine MacGregor MacGregor became the CEO of French energy company Engie in January 2021. Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. Yes. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ET, Aarti Singhal Director of Investor Relations, Catherine MacGregor Chief Executive Officer, Judith Hartmann Chief Financial Officer. For cost savings, you can change your plan at any time online in the Settings & Account section. or Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Yes. That's where the "trim tab" comes in. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, Ses parents, d'origine corse et basque[1], sont professeurs. (Tech. We invested 7.7 billion of CapEx in total. One was the CapEx. Our environment is changing. She has spent her entire professional career working in the energy sector. MacGregor, an engineer . 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. 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. 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. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. Live from New York and. Estabelece ainda cotas 50+ proporcionais a populao para preenchimento de vagas no setor pblico. We have a lot of experience over the years developed through our generation and thermal activity. 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. Find here the list of all the sessions presented by this speaker in order not to miss any of it. In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. Hopefully, thats an easy one, but would be very helpful. It honours and commits me. You mentioned that you would also phase out coal in district heating. https://noviocean.energy/documents/ This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. We are investing in our strategic priorities for long-term value creation. A particular region of international growth in Networks has been Latin America, where, in addition to gas, we are also building power transmission lines. Its not like a 2020 event. CEO of French energy giant Engie since January, Catherine MacGregor hopes to lead the company into a brighter and greener future. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? We completed the SUEZ transaction in October and launched further strategic reviews. Thats a good clarification. - Play an important role in ensuring security of supply for France and Europe 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. And Im sure thats a question youve been reflecting on as you took up the new role. Its been a period in which the sector was exceptionally strong. This has been a concern for the market. 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 was due to higher contributions from entities with minorities, which fully contributed at EBITDA and COI levels but only contributed at share at net recurring income group share level. Let me now turn to our ESG performance. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. For cost savings, you can change your plan at any time online in the Settings & Account section. 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? Depending on opportunities, it could be this asset or another one. Dans intrt de la France, Its youre obviously guiding for a significant improvement in Supply COI this year versus last year. You can see that on the recent months trading for renewable players.