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The second half showed a clear recovery with less stringent confinement measures but also with improved processes and protective equipment for our teams. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. We have progressed on simplifying the group. 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. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. Net recurring income group share was in line with guidance but at the bottom end of the range. Other generators like Uniper and Fortum have been very strong as well. You may change or cancel your subscription or trial at any time online. #buckminsterfuller #trimtab #climatechange. I think we are now about time, so I would like to thank you for your attention. Let me give you the 2020 COI highlights. We invested 4 billion of growth CapEx and successfully commissioned 3 gigawatt of wind and solar assets. Yes. MacGregor said: I would like to thank the board of directors for the confidence it shows in me. 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 really, in summary, three elements: complexity, sharper capital allocation, everybody pulling in the same direction and performance culture are three important elements, I think, that are going to make a difference and allow ENGIE, indeed, to strive in those strong tailwinds that continue to be there for us. I mentioned earlier two things actually. https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. cookies Enel nearly tripled, Orsted quadrupled. 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! One second, it will be over soon. Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. I know weve heard from the Chairman very helpfully on this last year, but I think wed love to hear your thoughts on this. It honors and commits me. Thank you for giving us our voices back with the amazing Diversity, Equity and Inclusion policies at ENGIE . And hydrogen, massive tailwind for ENGIE, massive tailwind because of it goes hand in hand with renewables. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. So on EVBox, were very happy to have announced this transaction. And then, of course, in terms of Thermal, we will be very opportunistic. A very fine, humane gesture that you promised your ENGIE colleagues. We will now take our next question from Peter Bisztyga with Bank of America. MacGregor, an engineer . Catherine MacGregor a rejoint le groupe ENGIE le 1. er. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. You have to keep in mind, about 200 million of that were related to SUEZ, which is now gone, of course. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. Euro erzielen und am Vorhaben festhalten, jhrlich 65 . Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. Yes. Find here the list of all the sessions presented by this speaker in order not to miss any of it. ENGIE announces that Catherine MacGregor took up her post as Chief Executive Officer of the Group on 1 January 2021. 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. And so we are working really hard on these networks to find alternatives to use preferably renewables, things like biomass for example. A warm welcome as well to you, Catherine MacGregor. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. 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. Some others, there is still a good portion of assumption that there might be a stranded asset. I think there was another question, which was related to the calendar. In addition to EVBox, we expect to execute disposals of around 2 billion, aligned with the group simplification. Thank you. 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. And if so, what quantity? Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. Please go ahead. Let me now turn to our ESG performance. 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. We are focused on driving our ESG performance using a wide range of metrics, three of which I will discuss here. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. 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. The enshittification of apps is real. 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. In the past Ms. MacGregor held the position of President-Drilling Group at Schlumberger NV and Personnel Director at Oilfield Services Co. Ltd. Ms. MacGregor received an undergraduate degree from cole Centrale Paris. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. We have a lot of experience over the years developed through our generation and thermal activity. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. 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. Let me now focus on the evolution of net debt and on our leverage ratios. And as you might have noticed that lately, we have not really entered the race of enhancement of gigawatt. We support credit card, debit card and PayPal payments. New organizational structure for a simpler ENGIE to go live on July 1 And also, is there any possibility to reverse the decision on the Belgium life extension should the Belgium government change its stance this year? Is it something that could be you realize value of and take advantage of low rates? In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. Yes. And I can confirm that the whole executive committee is passionate about moving along our strategy and enhancing our performance culture. We also posted higher financial costs. This was linked to a recovery of past energy costs, following the agreement on renegotiation of hydrological risk, which was finalized at the end of 2020. I would love to hear from you. click here. 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. We announced last December that EVBox would be listed on the New York Stock Exchange. Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. organisation Catherine MacGregor | 2021 Most Powerful Women International | Fortune You mentioned diversity of vast diversity of business line, et cetera. 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. The oldest executive at ENGIE SA is Francoise Malrieu, 73, who is the Independent Director. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. Let me know below Aarti Singhal - Director of Investor Relations. 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. Recharge is part of DN Media Group. 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. And when we reflect about some of the trends around electrification, around the growth in renewables, we realize that flexibility, dispatchability are going to be very important to the future of the energetic mix. Were going to really focus on a few geographies. Catherine MacGregor Wikipdia 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. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. All information you need to have a pleasant time during the event. When I think of hydrogen for ENGIE, I think all of our activities, all of our mtier benefit. Our near-term priority in the region is to commission two major electricity transmission projects. For a full comparison of Standard and Premium Digital, click here. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. This was mainly due to impairments, especially related to our nuclear reactors. This is one of the largest renewable PPAs signed with an industrial group in Belgium and demonstrates the growing appetite for PPAs from a broader range of customers. 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. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. Non Madame 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. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. We are experts in sourcing projects, in dealing with permitting, land ownership issues, financing, partnering, environmental assessment and all that good stuff as well as aspects of social acceptability, which is really important in the development of renewables as you know. commentary and analysis you can trust. So Ill ask two questions. The first one regarding the network convergence. Pour les articles homonymes, voir MacGregor. Holidays ? 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 sometimes, its okay to lose auctions if we dont get the right returns. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ Engie board set to appoint Catherine MacGregor as new CEO. Is this happening to you frequently? COVID had little impact on Nuclear, and its contribution improved by 203 million, mainly reflecting higher achieved prices and lower OpEx. As you put a fresh perspective into this organization, do you see room for improvement in terms of organization? We invested 7.7 billion of CapEx in total. I will now hand you back to Catherine for our 2021 priorities. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. But ENGIE shares have gone, lets say, sort of sideways and even down a bit in that time. Welcome also and again and similar thing for the CMD and midterm outlook, I would concur. On the renewables COI for 2020 of about 1.1 billion, basically, you can assume that the main contributors were hydro and wind, hydro about 700 million of that and wind was the rest. Following the launch of the new strategic orientation in July, ENGIE completed the disposal of its 29.9% shareholding in SUEZ in October. 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. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. 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. I'm looking forward to continuing to make a difference together. Here's a bit more, on climate change and from a few years ago, but still relevant. The first is on the Supply business. So I was wondering whether you could share some thoughts on perhaps where you might be able to get back to perhaps over the medium term in that business? Good morning, everyone. 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. Now having said that, we are also very excited about transitioning our gas systems into renewable and by that, I mean, renewable gas. Thats a good clarification. There is a very, very strong will power within the team to do that. Her vision on ENGIEs transformation and development, her industrial and international track record as well as her leadership and managerial skills will fully contribute to the achievement of the strategic orientations announced at the end of July. Let me now move to a detailed view per business line. On your two questions, 1 was on the tax rate. Maybe some thoughts. And then your other question was related to the organization. And I just wanted maybe to clarify that the government has not explicitly made the decision. Problem: 40% of the hours of the month there is minimum wind and zero sun. Elle devra y appliquer une stratgie dfinie par le conseil d'administration prsid par Jean-Pierre Clamadieu[6]. Alongside renewables, we are also developing projects of up to 3 gigawatts of gas-fired generation. Okay. And so from a financial impact standpoint, unlikely to be a 2021 story. She is the only female CEO in France's CAC-40 stock index; French Finance Minister Bruno. Officer of ENGIE SA since . Nothing much more structural than that really, James, on supply improvement.