Welcome again to Catherine. Indeed, we had an increase a temporary increase in 2020 to 32.5%. So lots of enthusiasm around renewable. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. One was the CapEx. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. She occupied a number of roles within [] Is this happening to you frequently? 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! So the 150 million I gave is correct. https://lnkd.in/ea25krWt These projects further cement Masdars position as a leading clean energy powerhouse, helping Azerbaijan to unlock its tremendous clean energy potential. hosting the engineering activities. 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. Have a nice day. 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. university I think these are really, really good questions. Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). Okay. 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. 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]. Yes. Catherine MacGregor est elle-mme mre de deux filles[2]. And second, its really focused and making sure that everybody pulls in the same direction. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? on the development of flexible and resilient energy systems. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. 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 assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. Within this guidance, we have included our current estimate of the potential impact. And importantly, we reaffirm our dividend policy, which relies on a 65% to 75% payout ratio on the basis of net recurring income group share. 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. Un article de Wikipdia, l'encyclopdie libre. Now that doesnt mean that we should not have discipline. This included 1.7 gigawatt of hydro plants in Portugal, which benefit from long-term concession arrangements. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. And youre right to point out that some of our DHC networks rely on a mix of entrance of feedstock. You certainly have a lot of people out here who want you to be very successful. 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. Selbst im Worst-Case-Szenario komme Engie dann auf eine Bewertung mit einem KGV von rund 10. https://waves-energy.co/maps/. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. 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. 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. We also continued to benefit from the cost actions launched in the second quarter. Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. 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. Thank you very much for your attention, and I would like to turn now the line back to the operator for the Q&A session. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. Onshore wind can be 1.5 years. With respect to the recent extreme weather events in Texas, we are assessing the situation. What you would be looking for? You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. 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 Pour les articles homonymes, voir MacGregor. Its, quite frankly, one of the big wins, I think, of last year when you think about it because both operationally to take this company to a level and multiply by almost 10 times their revenue over the last two years. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. We delivered for our customers while continuing to invest in major capital projects. 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. COVID weighed particularly heavily on Client Solutions and on Supply. 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. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. Depending on opportunities, it could be this asset or another one. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. EBITDA and COI were both down significantly from last year mainly due to the impact of the pandemic. Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. The current total coupon of 100 million per year has been reduced by 28% since 2017. We use To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. janvier 2021 en qualit de Directrice Gnrale. Our near-term priority in the region is to commission two major electricity transmission projects. Net income group share stood at negative 1.5 billion. On the 100 million, quite frankly, there isnt any unusuals that you should assume. 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. This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. 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. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. Let me now move to a detailed view per business line. You mentioned diversity of vast diversity of business line, et cetera. Lemjed Bouzekri Thuli MOLOTO Bhupendra Singh Francisca Iturrieta Amadori Berivan Szgn, So pleased that people liked my post on trim tabs. When we mentioned the 2 billion of additional disposal to drive simplification, the topics you know about, of course, the strategic reviews that we have announced. And given that theyre contracted, to maybe accelerate other areas of the business? 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 . Then rapidly followed: "what am I gonna use that for ? MacGregor said: I would like to thank the board of directors for the confidence it shows in me. [indiscernible] Sam, for putting more pressure on us. Obviously, you did signal that youd be ramping up CapEx. Some of your peers there have convinced the market that they transitioned to hydrogen. 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%. Find here the list of all the sessions presented by this speaker in order not to miss any of it. Please. Do you have a vision about taking this proportion of minorities down for the group? 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! Altogether, these units can contribute to a yearly production of up to 3.9 terawatt hours, equating to the annual gas consumption for hitting approximately one million new build homes in France. Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. And sometimes, its okay to lose auctions if we dont get the right returns. 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. COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. Yes. At the end of 2020, the financial net debt-to-EBITDA ratio was 2.4 times, a slight decrease compared to December 2019. The peer groups done very well. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. A cycle, of course, could be 3, 4, 5 years depending on the country. Please go ahead. 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. And Ill turn to Judith maybe for the cash flow from Nuclear. Theyre going into similar areas with Networks is an important aspect. So in general, we have 31-gigawatt portfolio. fusion, When I think of hydrogen for ENGIE, I think all of our activities, all of our mtier benefit. Let me now focus on the evolution of net debt and on our leverage ratios. Great post Catherine Fiamma MacGregor! 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Regarding the organizational simplification, you mentioned complexity of the group. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Employee consultation on the proposed organization design started this month as planned, and we expect it to conclude by the end of the second quarter. Its coal exits. In terms of geography, we have a strong hold in Europe. Revenue declined on a gross basis by approximately 900 million for the full year. 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. So this is becoming real. We invested 7.7 billion of CapEx in total. Next, a few words on the bridge from EBITDA to net recurring income group share. I think we are now about time, so I would like to thank you for your attention. You can store it. The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. 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. I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. And Im sure thats a question youve been reflecting on as you took up the new role. We have progressed on simplifying the group. French utility's new chief Catherine MacGregor to increase investment in renewables. 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. January 7, 2021. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. 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. Holidays ? In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. So no impact there, of course, on G&A reduction and about 800 million of assets. In addition, ENGIE also progressed geographic rationalization and strengthened its position in key regions. And so the number that I quoted, which was the injection that we did last year, you start to see that it becomes meaningful. Thank you very much, Judith. Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. The ENGIE Board set out strategic orientations for the group last year in July 2020, and my new executive team and I have three clear priorities: firstly, simplifying the group at pace; secondly, investing further, investing in renewables, networks and asset-based client solutions, as these are areas of competitive strength for ENGIE; and finally, strengthening our groups commitment to the energy transition. We will now take the next question from Rob Pulleyn with Morgan Stanley. 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.