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. Catherine MacGregor a t dcrite positivement par d'anciens collaborateurs: des articles de presses rapportent des propos qui la dsignent comme une personne trs simple aux loisirs sans surprise (cinma ou scrabble)[1], directe, mthodique, tenace, trs oprationnelle[4], humble et courageuse[3], efficace, mais elle sait couter (Thierry Pilenko)[2]. 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. Catherine MacGregor appointed new Engie CEO | Financial Times 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. In November, we discussed the creation of a new leader in multi-technical services, which would benefit from scale and strong growth prospects. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. You can see that on the recent months trading for renewable players. 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. Here's a bit more, on climate change and from a few years ago, but still relevant. We delivered for our customers while continuing to invest in major capital projects. For cost savings, you can change your plan at any time online in the Settings & Account section. So that is roughly what you have to have in mind. 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. Now the guidance for 2021. 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. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. And so we have assumed a very strong recovery like we have seen it in the second half. Welcome again to Catherine. Let me give you the 2020 COI highlights. Les miroirs magiques et moulins vent ne seront jamais une alternative au nuclaire franais, Before I share my view on 2021, here are our 2020 financial highlights. Or does it have its own game plan? fusion, Ses parents, d'origine corse et basque[1], sont professeurs. We have some core competencies. 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. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. Let me know below 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. Obviously, you did signal that youd be ramping up CapEx. I guess, whats the kind of your average period of sort of non-productive capital work in progress? This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. Un article de Wikipdia, l'encyclopdie libre. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. So its a huge project. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. CEO of French energy giant Engie since January, Catherine MacGregor hopes to lead the company into a brighter and greener future. Compare Standard and Premium Digital here. 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. She has spent her entire professional career working in the energy sector. 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. For a full comparison of Standard and Premium Digital, click here. You can read more about how we handle your information in our privacy policy. We do believe that its important to keep return in mind whenever we bid, and there is no must-win auction in ENGIE. And then just another one on guidance. 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. Ms MacGregor is 48, she's been the Chief Exec. The first one is, following the impairment on Belgium Nuclear, could you indicate whether there will be any impact on depreciation and amortization going forward? currently to 4 GW p.a. And so every year, we will allocate capital to that, and thats 1.3 billion a year. 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. Currently, we have 3 gigawatts under construction for commissioning in 2021, and we are on track to achieve the 2019 target of commissioning 9 gigawatts in three years by the end of this year. ENGIE thanks you for your participation. Okay. The enshittification of apps is real. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. 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. Catherine MacGregor Wikipdia We support credit card, debit card and PayPal payments. Iberdrola shares nearly doubled. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. We have a very nice digital platform to help us manage our assets better. 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. 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? and other data for a number of reasons, such as keeping FT Sites reliable and secure, Standard Digital includes access to a wealth of global news, analysis and expert opinion. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. Now that doesnt mean that we should not have discipline. 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. offers FT membership to read for free. 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? Catherine MacGregor est elle-mme mre de deux filles[2]. And then I also had a question on the coal phase out. And with that, Im pleased to hand you over to Catherine. Let me now turn to our ESG performance. Learn more in our Cookie Policy. Networks were mainly impacted by warm temperatures and by higher D&A. These projects further cement Masdars position as a leading clean energy powerhouse, helping Azerbaijan to unlock its tremendous clean energy potential. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? Engie appoints oil services executive to execute new renewables strategy Pour viter se gchis financier avec l'argent des franais Please disable your ad-blocker and refresh. This button displays the currently selected search type. And if so, what quantity? Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. 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. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. Maybe some thoughts. In addition to EVBox, we expect to execute disposals of around 2 billion, aligned with the group simplification. Nothing much more structural than that really, James, on supply improvement. modifier - modifier le code - modifier Wikidata. 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! If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. I would like to take this opportunity to thank all ENGIE employees who have worked so hard to deliver critical services for our customers in unprecedented conditions. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. And so from a financial impact standpoint, unlikely to be a 2021 story. Lemjed Bouzekri Thuli MOLOTO Bhupendra Singh Francisca Iturrieta Amadori Berivan Szgn, So pleased that people liked my post on trim tabs. And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. You have, of course, in mind, that we have committed to fund our waste provision until 2025. Catherine Fiamma MacGregor on LinkedIn: ENGIE 9M 2022 Financial 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. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. I have a couple of questions, 1 for Catherine and 1 for Judith. Higher D&A was mainly due to accelerated amortization of some distribution assets. So lots of enthusiasm around renewable. Remember that for regulated activities, volume effects are recoverable in the short to medium term through the clawback mechanism and are, therefore, value neutral. 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. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Climate Week NYC 2021: Interview With Catherine MacGregor, CEO Of ENGIE Great post Catherine Fiamma MacGregor! COI was adversely impacted by roughly 300 million due to foreign exchange and by an aggregate negative scope effect of 75 million. And I was very pleased to hear that you put simplification at the center of your new vision for the group. But that brings me to my question actually. The renewables COI, could you break that down, if you dont mind, into the change in hydro versus wind and solar in the 2020 numbers? Carbon neutrality is at the heart of ENGIEs purpose and central to our strategic direction. https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. So naturally, were landing more just below a 100 million figure for 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. Indeed, you can expect positive cash flow operation from our nuclear activities. This is particularly noteworthy in the context of the unprecedented pandemic. 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 Recharge is part of NHST Global Publications AS and we are responsible for the data that you register with us, and the data we collect when you visit our websites. On May 18, 2021, ENGIE's Chief Executive Officer Catherine MacGregor unveiled the Group's strategic roadmap, to reaffirm ENGIE as a leader in the energy transition. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. 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]. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. An example of the latter is the continued rollout of smart meters, where we installed an additional two million smart meters in France last year. We had very good results from our Italian assets due to higher level of ancillaries as well as to higher spreads captured throughout Europe. #buckminsterfuller #trimtab #climatechange. COI decreased mainly driven by a 600 million impact from the pandemic. You can update your choices at any time in your settings. You may now disconnect. 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. So these are some of the things that we are excited about when we think about our network assets, and we like it. Thanks to Faye Kirby and Valencia Anderson for setting up the display and sharing books written by black authors. So we feel very good about [indiscernible]. Overall, we have 100 cooling networks with a total installed capacity of 6.1 gigawatts and 300 heating networks of various sizes that distribute 19 terawatt hours yearly. We intend to retain a higher ownership of our renewables project where it is strategically and economically rational as we indicated in our strategic orientation. Aged 48 and an engineering graduate of cole Centrale Paris, Catherine MacGregor started her career at Schlumberger in 1995, where she spent 23 years in positions of international responsibility, notably as group HR director. - Contribute to measures to support purchasing power Previous to these positions, she has worked 23 years at Schlumberger, the world's leading provider of reservoir characterization, drilling, production and processing technologies for the oil and gas industry. Is this happening to you frequently? To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. 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. commentary and analysis you can trust. So and then maybe Ill add that there is also, I think, a lot of things we can do and we are doing, and we will continue to do and even increase around industrialization, procurement, supply chain, of course, digital. 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. What is the identity of the Thermal business? 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. Some others, there is still a good portion of assumption that there might be a stranded asset. You mentioned diversity of vast diversity of business line, et cetera. 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%. Turning to an update on the strategic review of part of our Client Solutions business that was launched in the second half of last year. The peer groups done very well. And I was interested to get your philosophy about minorities. 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.. So let me start then with your question on Thermal. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Engie has been riven in the past by fights between chairman and CEO and is a company where the board plays a big role in shaping strategy. 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. Comptences clefs . #beyou #beunique #beunited ENGIE Africa 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. 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? Is it something that you will tell us more about in May? How quickly can that new CapEx sort of translate into earnings? 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 also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. In Networks, lower RAB remuneration rates in France should be offset by the reversal of 2020 warm temperatures as well as continued growth in Latin America. 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. 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. I will now hand you back to Catherine for our 2021 priorities. Sur cette version linguistique de Wikipdia, les liens interlangues sont placs en haut droite du titre de larticle. Thank you Renata Spada for being yourself and authentic. Before I say more on this, let me review the groups overall 2020 performance. That's where the "trim tab" comes in. So without going into any specific, youre right to say that it does contribute to the simplification efforts. Now Ill comment on the bridge from net recurring income group share to net income group share, which was negative 1.5 billion in 2020. Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. 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. Biography [ edit] Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. Thats one thing. Some of your peers there have convinced the market that they transitioned to hydrogen. I mentioned earlier two things actually. And this is something, obviously, that we are going to continue and push. So the 150 million I gave is correct. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. January 7, 2021. For the first part of the transactions, you mentioned the first buyout of or rather the buyout of a part of your minorities in Latin America. 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+. We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. analyse how our Sites are used. Weve seen peers in renewables showing a bit of a lack thereof of investment discipline, among other thing, the auction in UK offshore. We strengthened our leadership in green bonds having issued 2.4 billion green bonds in 2020 for a total of 12 billion since 2014. A cycle, of course, could be 3, 4, 5 years depending on the country. Weve proven that over and over again in very, very recent past. We have strict criteria, and we will stick to them. We will now take the next question from Meike Becker with Bernstein. 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. 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. Thank you, Emmanuel, for your questions. If we look at the long term, weve got an average of 20% of minority as part of group net income with large minority stakes in Latam, for instance. So again, of course, I mean, it 2020 was heavily impacted. French energy group Engie's ENGIE.PA board is set to appoint Catherine MacGregor, a top executive at Franco-American oil services firm TechnipFMC FTI.N as CEO, eight months after the ouster of Isabelle Kocher, a source familiar with the situation told Reuters. She was in charge of the entitys IPO. 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? 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. Laut Konzernchefin Catherine MacGregor werde man im laufenden Geschftsjahr 2023 einen Gewinn zwischen 3,4 und 4 Mrd. And so we will not give specific assets, of course, at any given time. From November 1st DN Media Group is responsible for controlling your data on Recharge. on the development of flexible and resilient energy systems. We will now take our next question from Emmanuel Turpin with Societe Generale. Thats really clear. Organically, these evolutions were slightly better. First, operating cash flow was 1.1 billion lower, mainly reflecting the drop of EBITDA. Catherine Macgregor, Engie SA: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Markets European Close Bloomberg Markets European Close. We maintained a high level of liquidity with 23 billion, including 13.3 billion of cash as at the end of December 2020. Ill start maybe with, again, the second one on renewables. And lets now, indeed, look at our priorities for sustainable long-term value creation. On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. We have progressed on simplifying the group. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. We also continued our relentless pursuit of simplifying the group. Engie hires oil & gas veteran Catherine MacGregor as CEO for energy This has been a concern for the market. Catherine MacGregor | 2021 Most Powerful Women International | Fortune But ENGIE shares have gone, lets say, sort of sideways and even down a bit in that time. - Accompany our customers in their decarbonization strategies to face the climate emergency Judith, you want to answer the second question? All options considered for Engie's services business sale-CEO Elle est alors nomme prsidente New Ventures de TechnipFMC. And Judith, you want to comment, please, on the impairment? Thank you, Sam, for this question. In just eight weeks that I have been here, I can already see the tremendous potential ENGIE has in accelerating this energy transition. 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. cookies Yes. Catherine MacGregor a rejoint le groupe ENGIE le 1. er. Engie names Catherine MacGregor as new CEO - Offshore Energy . Catherine MacGregor Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. And so our whole plan that weve announced today, and obviously, very pleased to have made this announcement today, includes for each of these networks solution to convert the coal to other source of feedstock. Excellent example of circular economy ! So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. 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. - Play an important role in ensuring security of supply for France and Europe Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. Therefore, we do continue that we do think that gas will continue to play a very key role. So first to reiterate on that, we are very pleased with our position on renewables, and we are leader in France. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. It mainly affects our renewables and supply activities. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . And how quickly do you think it can actually contribute to your earnings, please? This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. Net interest expense was also slightly higher driven by negative FX and lower cash remuneration.