We use Is it something that could be you realize value of and take advantage of low rates? Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. Please disable your ad-blocker and refresh. 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. A very fine, humane gesture that you promised your ENGIE colleagues. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Obviously, we have made the decision to exit the coal, which is run under Thermal. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. Although we were in crisis management most of 2020, we did not lose focus on our long-term objectives and continued to invest for the future. Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. So we feel very good about [indiscernible]. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. The second half showed a clear recovery with less stringent confinement measures but also with improved processes and protective equipment for our teams. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. So in general, we have 31-gigawatt portfolio. 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. Depending on opportunities, it could be this asset or another one. *Criao da poltica nacional de incluso das pessoas 50+ no mercado de trabalho* 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. 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. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. 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. We assume up to 100 million dilution effect at the COI level from approximately 2 billion disposals in addition to previously signed transactions. Now that doesnt mean that we should not have discipline. So to summarize, ENGIE made progress at pace in 2020. It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. 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. 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. Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. How quickly can that new CapEx sort of translate into earnings? And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. Okay. We are investing in our strategic priorities for long-term value creation. 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. 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. Areas of expertise ; 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. We expect EBITDA to be in the 9.9 billion to 10.3 billion range, COI to be in the 5.2 billion to 5.6 billion range, and net recurring income group share to be in the 2.3 billion to 2.5 billion range. 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. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. And side comment also on this is that our employees are obviously very excited about renewable as being a growth center of a growth engine for us in ENGIE, so as well as obviously being a key goal of our ESG road map. Aarti Singhal - Director of Investor Relations. or 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. 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. There is a very, very strong will power within the team to do that. 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. Sure. Cheers! On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. currently to 4 GW p.a. For example, we significantly enhanced our renewables footprint in the U.S. Please go ahead. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . 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. Hopefully, thats an easy one, but would be very helpful. ENGIE thanks you for your participation. Welcome to the utilities world. I was wondering whether you could just remind us where youre still using coal in district heating and what the options are there, whether youre planning on investing and converting those units to cleaner fuels? Some others, there is still a good portion of assumption that there might be a stranded asset. Our environment is changing. So thats a positive. Thats really clear. 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. Very yes, good question. Selbst im Worst-Case-Szenario komme Engie dann auf eine Bewertung mit einem KGV von rund 10. But is it bad? So lots of enthusiasm around renewable. In terms of geography, we have a strong hold in Europe. One was the CapEx. 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? The second quarter was unprecedented and very, very stringent lockdown measures in our main countries. Are you working on a new organizational format? MacGregor said: I would like to thank the board of directors for the confidence it shows in me. 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. 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. 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. Okay. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. She has spent her entire professional career working in the energy sector. Yes, its hard to give any precise guidelines on that because, of course, it depends on the M&A and greenfield mix, and it depends on the type of projects that youre after. 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. I have a couple of questions, 1 for Catherine and 1 for Judith. Vocs conseguem nos apoiar? On the other hand, we, obviously, want stability in a power system. 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. 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. 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. 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. A key part of that strategy is its Ocean Winds joint venture with EDPR, which has set out its stall as a global leader in offshore wind. We will now take our next question from Emmanuel Turpin with Societe Generale. We also suffer from the same crisis and have also contributed to this, especially in the Corona years. Excellent example of circular economy ! So thats one aspect of it. We had 1.2 billion total impact last year. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. Les miroirs magiques et moulins vent ne seront jamais une alternative au nuclaire franais, So without going into any specific, youre right to say that it does contribute to the simplification efforts. 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. COI decreased mainly driven by a 600 million impact from the pandemic. Please. On quick one on numbers, on guidance. We have made the decision to stop the work to prepare for this such an extension. Regarding the organizational simplification, you mentioned complexity of the group. This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. The contribution of French renewables was also lower due to the reduction in DBSO margins in 2020. As we approach our annual SAP Concur Fusion customer event very quickly, this week was rehearsal time for me! We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. And then the second question is more for Judith. This is value neutral over time as D&A is integrated in the regulated revenue. 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. We have already secured better pricing for 18% of our 2021 output at 46 per megawatt hour. This was mainly due to impairments, especially related to our nuclear reactors. And in terms of the supply, were really expecting supply to recover mainly from less COVID impacts, also looking at the temperature, which will improve. Live from New York and. Thats what Id like to understand because we need to consider whats the dilution of as well the midterm period, not only 2021. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. Catherine MacGregor is currently Chief Executive Officer and Director at Engie - View - Engie org chart Create your alert to follow the career of Catherine MacGregor. Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. Within this guidance, we have included our current estimate of the potential impact. 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. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. It was in this ramp-up that we were doing on renewability was the first time that we had significant sell downs. Catherine MacGregor joined the ENGIE group on January 1, 2021 as Chief Executive Officer. A particular region of international growth in Networks has been Latin America, where, in addition to gas, we are also building power transmission lines. 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. Do you have a vision about taking this proportion of minorities down for the group? And as a result, the second half of 2020 was actually similar to H2 2019 on an organic basis. Indeed, we are reviewing, in a bit of a systematic manner, some of the minorities that we hold. We have in the U.S. the largest development pipeline. 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? Thank you Renata Spada for being yourself and authentic. Holidays ? Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. 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. Tout au long de cette priode, les quipes d'Elengy, Storengy - ENGIE, GRTgaz, GRDF Catherine Fiamma MacGregor on LinkedIn: nergie : la consommation de gaz a baiss de 6,2% en France en . 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. cookies Simply log into Settings & Account and select "Cancel" on the right-hand side. Operator? Thank you. Standard Digital includes access to a wealth of global news, analysis and expert opinion. At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. So if you add those two effects together, you go from 150 million positive to roughly 160 million positive in 2021. I look forward to continuing to work closely with our brothers in Azerbaijan, and our partners across Europe and around the world, to deliver on our shared clean energy ambitions. Could you clarify how much COVID impact youve included in 2021 relative to the 1.2 billion hit in 2020? European utility giant Engie named oil & gas industry veteran Catherine MacGregor as its new CEO with a remit to lead the French groups ambitious renewables and energy transition plans. 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. We use So quite frankly, it is a normal run rate of dilution of 100 million when you look at a 2 billion debt reduction. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). But really appreciate, thanks again ! #beyou #beunique #beunited ENGIE Africa And so were excited about this transaction. Lemjed Bouzekri Thuli MOLOTO Bhupendra Singh Francisca Iturrieta Amadori Berivan Szgn, So pleased that people liked my post on trim tabs. 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.
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