catherine macgregor engie bio catherine macgregor engie bio

Included within this guidance is an estimated impact that follows the extreme cold weather in Texas earlier this month. Thanks to Faye Kirby and Rodica Roman for organizing the event and thanks to the many helpers! The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. analyse how our Sites are used. So indeed, were going from 4 billion of growth CapEx to 5.5 billion, 6 billion in 2021. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. Jean-Pierre Clamadieu, Chairman of the Board of Directors, declared: On behalf of the Board and employees of the Group, I am pleased to welcome Catherine MacGregor and wish her full success in her missions. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. Within this guidance, we have included our current estimate of the potential impact. analyse how our Sites are used. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. Regarding the organizational simplification, you mentioned complexity of the group. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. And if you look at what we announced on January 14 is indeed a smaller executive team, less members. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. - Contribute to measures to support purchasing power 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. 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. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Its a geography refocus. In emerging markets, the importance of gas is driven not just by economic growth but also by reducing exposure to higher emitting sources such as coal. It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. So the what is happening here in France on biomethane is actually quite real, and so we are now looking at potentially having sufficient volume to fully displace what will be needed in gas at the 2050 horizon. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. DN Media Group is the leading news provider in the shipping, seafood, and energy industries, with a number of English- and Norwegian-language news publications across a variety of sectors. How quickly can that new CapEx sort of translate into earnings? And Im sure thats a question youve been reflecting on as you took up the new role. - Accompany our customers in their decarbonization strategies to face the climate emergency We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. Currently under construction is the 1,000-kilometer Gralha Azul project and the 1,800 kilometers Novo Estado project. Keep abreast of significant corporate, financial and political developments around the world. 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. 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. She has spent her entire career in the energy sector. Catherine Fiamma MacGregor is an Influencer, https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future, https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. Yes. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. And that will be something that we will be describing a bit more in details in May. So maybe I will start with your last question, which is around the decision on nuclear. Net interest expense was also slightly higher driven by negative FX and lower cash remuneration. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. So without going into any specific, youre right to say that it does contribute to the simplification efforts. personalising content and ads, providing social media features and to 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. Have a nice day. We support credit card, debit card and PayPal payments. 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. You may change or cancel your subscription or trial at any time online. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. We also suffer from the same crisis and have also contributed to this, especially in the Corona years. Areas of expertise ; 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. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. We had 1.2 billion total impact last year. Thank you, Emmanuel, for your questions. Thank you, Sam, for your welcome message and your welcome question. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. But when you think about where that green hydrogen will be produced and where it will be consumed, the fact that we have infrastructure to transport this hydrogen, potentially to store this hydrogen will play to our strength. We think its important to have a system play on renewables. Selbst im Worst-Case-Szenario komme Engie dann auf eine Bewertung mit einem KGV von rund 10. Some of your peers there have convinced the market that they transitioned to hydrogen. 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? That will put pressure on Ms MacGregor to make her mark . 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. 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. 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. 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. So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. The first is on the Supply business. But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? Solvay Alpharetta celebrates Black History Month. And the second one is very bad timing. 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. 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! Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. 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. French utility's new chief Catherine MacGregor to increase investment in renewables. It is a great source, among others, of motivation and satisfaction to continue the (so essential) low-caborn transition in an extremely challenging environment , | Financial Reporting |Taxation| Month, Year-end Closings |Corporate Accounting| Financial Statement Analysis| SAP Hana FICO |IFRS. We have progressed on simplifying the group. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. Elle est alors nomme prsidente New Ventures de TechnipFMC. In her efforts to "simplify" Engie, MacGregor is moving from 25 business units to 4 globally, and . We will run processes. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. 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. 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! 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. Pay my electricity bill of next year. So in terms of creating an entity as part of our strategic review of Client Solutions, one of the things that is important to understand about this business is that it has grown within ENGIE as a series of acquisition and local development and so today, dont quite belong into a coherent entity and is not led as an independent or well-defined part of ENGIE. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Judith, you want to answer the second question? She occupied a number of roles within [] Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line, Glad to see all the progress Engie is doing in becoming a renewable leader. The COVID impact on our thermal activities was minimal with lower demand mainly in Chile and Peru. Yes. 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We invested 1.5 billion growth CapEx in 2020, mainly in Brazil, on power transmission lines and for the acquisition of the remaining 10% in TAG. What you would be looking for? 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. On the 100 million, quite frankly, there isnt any unusuals that you should assume. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. This really has two reasons. 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. 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. We are investing in our strategic priorities for long-term value creation. Our environment is changing. Therefore our industry is [], ENGIE steps up its energy transition, targets renewables, MacGregor to supply RoRo equipment for K Lines LNG-powered newbuilds, Equinor and Engie press ahead with H2BE hydrogen project in Belgium, Engie names Catherine MacGregor as new CEO, MacGregor to supply all-electric RoRo equipment to H-Lines PCTCs, MacGregor to equip 4 more Hegh Autoliners multi-fuel PCTCs, In focus: Investments in oil, offshore wind hit a snag. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. A cycle, of course, could be 3, 4, 5 years depending on the country. #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. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. European utility giant Engie named oil & gas industry veteran Catherine MacGregor as its new CEO with a remit to lead the French group's ambitious renewables and energy transition plans. We have a team of about 300 developers who are really good at what they do. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . 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. university Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. Yes. Good luck with the new role, Catherine. Is it something that you will tell us more about in May? 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. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. For a full comparison of Standard and Premium Digital, click here. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. We are a smaller company than Engie normally would partner with. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. Even if you ten-double the installations of these sources, the 40% remains. By 2050, over $15 trillion are expected to be invested in power generation globally with over 70% in renewables. You may change or cancel your subscription or trial at any time online. We completed the SUEZ transaction in October and launched further strategic reviews. Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. 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. And then, of course, right after that, you have hydrogen. And then just another one on guidance. And how quickly do you think it can actually contribute to your earnings, please? Un article de Wikipdia, l'encyclopdie libre. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. And second, its really focused and making sure that everybody pulls in the same direction. And Im really I am personally convinced, enthusiastic about the idea of having a very sharp focus on capital allocation making sure that all of our managerial efforts go in the direction that weve announced, and well be able to show very positive results. Dans intrt de la France, I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. French Networks had limited COVID impact also mainly on distributed gas volumes. A particular region of international growth in Networks has been Latin America, where, in addition to gas, we are also building power transmission lines. Premium access for businesses and educational institutions. And the second one, if I may ask, around Client Solutions. The Board has reaffirmed the groups dividend policy and proposed for 2020 a payout ratio of 75%, which is at the top end of the range. For example, we signed several corporate PPAs with Amazon for a 650-megawatt global portfolio of wind and solar projects across the U.S., Italy and France. So for my question, the first is on the asset rotation. ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ETCompany Participants. And Judith, you want to comment, please, on the impairment? For example, last year, 91 additional biomethane production units were connected to the French gas grids, and over 85% of these were connected to GRDF. Please go ahead. 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. Congratulations Engie. What are you looking at? 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. However, we claim we have a valid solution to the above problem,, inviting large corporations like Engie and others reading this, to scrutinize our numbers and concept very carefully. 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. 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. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Great post Catherine Fiamma MacGregor! Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. Catherine MacGregor est elle-mme mre de deux filles 2 . With our experience, knowledge and reach we can optimally meet your businesses media needs and requirements in three cohesive ways: Network with the right people, Insight into the industry, and Talent to the right place. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. ENGIE thanks you for your participation. Yes. On the other hand, we, obviously, want stability in a power system. 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. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Ladies and gentlemen, this concludes this conference call. On an organic basis, the business line saw 1% growth, which was a strong result considering that there were over 100 million of positive operational one-offs in 2019 from LDs on newly commissioned power plants in Brazil and Chile. Its the first step. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. And Ill turn to Judith maybe for the cash flow from Nuclear. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. We also posted higher financial costs. So no impact there, of course, on G&A reduction and about 800 million of assets. click here. 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. Excellent example of circular economy ! We invested 1.5 billion of growth CapEx in 2020 mainly for the acquisition of 1.7 gigawatt of hydro assets in Portugal. 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. Stay informed and spot emerging risks and opportunities with independent global reporting, expert We also invested in #RenewableEnergy with the acquisition of 6 GW of solar and storage capacity projects in the US and signed an MOU to develop 3 GW of #wind power in Egypt. cookies 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.. is its Ocean Winds joint venture with EDPR. 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. Thats one thing. And so the amount will be much lower than what you have seen in 2020. 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. You may now disconnect. 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. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? Or is it your budget of the COI for these businesses in 2021? 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. And maybe the last point, which is around performance culture, which I think can be improved within ENGIE, and here again, I can assess that the first reaction to this discussion within the company leads me to believe that we can make some inroads on that topic as well. And Networks, given that we do, we continue to invest here in France into the RAB, you will see a relative quick turnaround into contribution. 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.