Our portfolio of wind and solar assets has an average age of five years with an average residual contract duration of 15 years, which offers us with good visibility of earnings. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. offers FT membership to read for free. Let me now turn to our ESG performance. or We have also started to adopt the existing gas transport networks by commissioning three reverse flow installations in 2020, which allow biomethane to flow from the distribution grid to the gas storage units. The biggest, of course, remains Renewables.
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. Higher D&A was mainly due to accelerated amortization of some distribution assets. What you would be looking for? Engie will also capture opportunities resulting from recovery plans announced in Europe, notably related to the development of green gases (biogas and hydrogen). Okay. We will now take our next question from Peter Bisztyga with Bank of America. Overall, the average cost of gross debt was 2.38%, down 32 basis points compared with December 2019. Catherine MacGregor will join Engie as CEO. Maybe some thoughts. Catherine MacGregor, ne Catherine Fiamma le 7 aot 1972 au Maroc, est un ingnieur et chef d'entreprise de nationalit franaise. So when you will reinvest? One was the CapEx. 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. However, the gross COI evolution was negative 125 million mainly due to foreign exchange. In France, we continued to invest into the gas smart meters rollout. 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. We use cookies in a variety of ways to improve your experience, such as keeping NHST websites reliable and secure, personalising content and ads and to analyse how our sites are being used. And Ill turn to Judith maybe for the cash flow from Nuclear. Thank you, Catherine, and good morning, everybody. 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. For example, in addition to the Amazon contract that I mentioned earlier, ENGIE will supply 3 terawatt hours of renewable energy to the global chemicals group, INEOS, through a 10-year corporate PPA. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. Hopefully you can also take this into account? 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. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. How quickly can that new CapEx sort of translate into earnings? Check if your 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. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). And I think, namely complexity is one thing. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. COI decreased mainly driven by a 600 million impact from the pandemic. Hydro had a strong increase organically but was down from a growth perspective because of the FX, of course, in the Brazilian real, and wind was an increase for the obvious reasons because we have been investing quite significantly in the past few years. And so these are some of the things that complexity and ability to manage activities that are very, very different from each other, I think really get in the way of performance. Together, let's continue to make a difference! So here, generally, the question, how do you think about the future of the gas networks? About Catherine MacGregor MacGregor became the CEO of French energy company Engie in January 2021. We will continue funding nuclear provisions in Belgium and invest for maintenance with a total of approximately 4 billion. You can still enjoy your subscription until the end of your current billing period. You may change or cancel your subscription or trial at any time online. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. 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. 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. 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. We will now take the next question from Meike Becker with Bernstein. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. These projects further cement Masdars position as a leading clean energy powerhouse, helping Azerbaijan to unlock its tremendous clean energy potential. Stepping back. The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. Organically, these evolutions were slightly better.
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. Please disable your ad-blocker and refresh. Its two and probably a little bit more early. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. We have also good fleet in Middle East and also Latin America. And obviously, it mitigates the intermittency, which is still quite an issue with renewables, as we know. . On the other hand, we, obviously, want stability in a power system. The current total coupon of 100 million per year has been reduced by 28% since 2017. Ill start maybe with, again, the second one on renewables. Catherine will then come back and share our priorities. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. Its going to take us some time. Now the 2021 guidance. We have ambitious goals to continue to simplify ENGIE at pace to play a key role in accelerating the energy transition and to focus on the long-term profitable growth of the group. I guess, whats the kind of your average period of sort of non-productive capital work in progress? And I just wanted maybe to clarify that the government has not explicitly made the decision. Its been a period in which the sector was exceptionally strong. And then, of course, in terms of Thermal, we will be very opportunistic. 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. When expanded it provides a list of search options that will switch the search inputs to match the current selection. It will also require some infrastructure, maybe not with the same density at todays gas network.
Catherine MacGregor | 2021 Most Powerful Women International | Fortune We think, in general, gas is going to be important in this energy transition. 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. Offshore wind is typically much longer. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. You can see that on the recent months trading for renewable players. So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. In other words, direct stable energy is needed these hours. This impact was partially offset by higher achieved prices for our hydro power production and higher volumes produced mainly by our wind assets. Welcome to the utilities world. And as in the past, we will be very mindful of timing. We completed the SUEZ transaction in October and launched further strategic reviews. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? Find here the list of all the sessions presented by this speaker in order not to miss any of it. So on EVBox, were very happy to have announced this transaction. So no impact there, of course, on G&A reduction and about 800 million of assets. We are investing in our strategic priorities for long-term value creation. Before I say more on this, let me review the groups overall 2020 performance. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company.
Catherine Macgregor, Engie SA: Profile and Biography In Thermal, we expect a COI decrease due to the normalization of a strong 2020 performance in Europe, which was supported by high spark spreads and ancillary contributions. A primeira anlise que feita pelo corpo tcnico do Senado j foi feita e agora a ideia est disponvel para votao popular. The reversal of a positive internal one-off from the fourth quarter of 2019 offset in supply as well as the first effect of the RAB remuneration rate decreases also contributed to this lower COI in France. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only). Obviously, we have made the decision to exit the coal, which is run under Thermal. But we really want to focus on a return-based growth strategy. We also continued our relentless pursuit of simplifying the group. Im Aarti Singhal, Director of Investor Relations at ENGIE, and welcome to our 2020 annual results conference call. And sometimes, its okay to lose auctions if we dont get the right returns. 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. Premium access for businesses and educational institutions. The commitment and mobilization of all our teams at ENGIE is truly exceptional and it is an honor to be a part of such a dedicated and forward-thinking organization! 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. 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. So maybe I will start with your last question, which is around the decision on nuclear. 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. Thank you. So its a huge project. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. Read more about DN Media Group here. And moving now to our international networks, where we are leveraging the deep networks experience we have in Europe. We are a media company, specifically facilitating the maritime and offshore industry. Lets now move to our Supply, Nuclear and Other activities. [Operator Instructions] We will take our first question from James Brand with Deutsche Bank. It seems to be the trend last few questions. Financial net debt decreased by 3.5 billion to 22.5 billion from December 2019 primarily due to disposal proceeds. 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. 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. Non Madame And on gender diversity, we maintained 24% women in management of the group, and this must continue to be an area of focus for us in the coming years. Great post Catherine Fiamma MacGregor! You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Theyre going into similar areas with Networks is an important aspect. This decision to appoint Macgregor, effective as of January 1, 2021, is the result of a selection process started at the end of July. By Gwnalle Barzic and Geert De Clercq. Congratulations Engie. [Foreign Language]. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. I would love to hear from you. Lets now move to Thermal, which was impacted by scope and FX, notably, 90 million of disposals mainly in Thailand and close to 40 million negative FX impact. 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. Selbst im Worst-Case-Szenario komme Engie dann auf eine Bewertung mit einem KGV von rund 10. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. Weve seen peers in renewables showing a bit of a lack thereof of investment discipline, among other thing, the auction in UK offshore. And the answer is yes. Now turning to Networks. As always, my team and I are here to assist you, so do please reach out. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . 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. Stay informed and spot emerging risks and opportunities with independent global reporting, expert Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). 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. 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. And so were excited about this transaction. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. Catherine MacGregor est elle-mme mre de deux filles[2]. You mentioned diversity of vast diversity of business line, et cetera. 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. offers FT membership to read for free. If we basically look at simplification, we could cut it in two parts, what I would call transactional simplification, disposals buyout of minorities on maybe organizational simplification. 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.
Katherine MacGregor - Biography H2, 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.. Precisamos de 20.000 apoios para que a ideia se transforme em lei. https://lnkd.in/ea25krWt Price is going up. But on defining the structure, does that mean we have a disposal in Q3, Q4? But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? Elle est alors nomme prsidente New Ventures de TechnipFMC. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. 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. 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! 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. So our main working scenario right now is that it wont happen. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. Let me give you the 2020 COI highlights. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. There are 25 older and 1 younger executives at ENGIE SA. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial.