If you have an ad-blocker enabled you may be blocked from proceeding. Because there was a time when that business was making around 600 million of COI. 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, the companys statement reads. So our main working scenario right now is that it wont happen. Our greenhouse gas emissions from power production reduced 9% to 68 million tons as the share of coal has further decreased in 2019. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. There is a very, very strong will power within the team to do that. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Now simplification is a bit of a general concept, and I was hoping for a bit more color from your part. Elle est ingnieur, diplme de l'cole centrale Paris, dont elle sort en 1995. A quick word on the agenda for this morning. 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. 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. Please disable your ad-blocker and refresh. De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. We are a media company, specifically facilitating the maritime and offshore industry. The President & CEO of the Finnish grid company Fingrid Oyj, Jukka Ruusunen, D.Sc. Other generators like Uniper and Fortum have been very strong as well. The key here is really to give that business its own industrial project, its own identity. Engie board set to appoint Catherine MacGregor as new CEO. And Judith? It seems to be the trend last few questions. Catherine MacGregor is an engineer and graduate of cole Centrale de Paris (CentraleSuplec). 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. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. We use 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. We see a huge potential for hydrogen, and we are already making significant progress in biomethane. 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 have made the decision to stop the work to prepare for this such an extension. And so we are working really hard on these networks to find alternatives to use preferably renewables, things like biomass for example. Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. *Criao da poltica nacional de incluso das pessoas 50+ no mercado de trabalho* 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. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. 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. Also adding to national energy insecurity and dependence on fossil producing countries at colossal scale. Ms MacGregor, an engineer by training who was born and raised in Morocco, will start in the CEO job on 1 January 2021, taking over a company that has been roiled over the past few years by a. 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. Before I share my view on 2021, here are our 2020 financial highlights. I want to take advantage also to clarify on a question that I was asked earlier on the nuclear impairments and the impact on D&A. She has spent her entire professional career working in the energy sector. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. Read more about DN Media Group here. 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. Thank you #HariPrasad #PulakPrakash #PallavGogoi #AmitGhosh, Player Representation and Scouting for F&F Sports, Two Cows Explain Economics Better Than Any Class Sure. Net recurring income group share amounted to 1.7 billion, down 37% year-on-year. Now from a also power system standpoint, gas today is also a very nice complement to renewables because it has brings the flexibility. 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. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and to show you relevant ads (including professional and job ads) on and off LinkedIn. Why the effort to reorganize this entity given the strategic review regarding a potential disposal? This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. Theyre going into similar areas with Networks is an important aspect. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. Hopefully you can also take this into account? We are investing in our strategic priorities for long-term value creation. We reshaped the portfolio by investing 7.7 billion CapEx and by disposing of 4.2 billion of assets. And so were keeping 40%. Premium access for businesses and educational institutions. 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. Next, a few words on the bridge from EBITDA to net recurring income group share. We support credit card, debit card and PayPal payments. 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. 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. 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. Siga o link abaixo e deixe seu apoio a esta poltica de incluso necessria ao nosso pas. It is important to say that our renewables growth ambition is not about entering a gigawatt race. We continued to put in place dedicated action plans, including OpEx reductions and G&A resizing. cookies Holidays ? Its about 1% of French consumption that was injected, so and thats 2021 or 2020, rather. 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. https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. Solvay Alpharetta celebrates Black History Month. Ses parents, d'origine corse et basque[1], sont professeurs. 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 will run processes. A cycle, of course, could be 3, 4, 5 years depending on the country. Excluding the scope out effect of SUEZ in the fourth quarter, the second half performance in 2020 was similar to previous year. As CEO of ENGIE, I am particularly proud of what we have achieved with our teams. 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. Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. We also continued our relentless pursuit of simplifying the group. Judith? Thanks, everyone, for your welcome message and very much look forward Judith and I very much look forward to meeting you, extending with you in the future and again, very, very excited about turning those tailwinds that ENGIE has had into reality. Keep abreast of significant corporate, financial and political developments around the world. And sorry, just a follow-up on the CapEx. And lets now, indeed, look at our priorities for sustainable long-term value creation. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. At the end of 2020, the financial net debt-to-EBITDA ratio was 2.4 times, a slight decrease compared to December 2019. 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. So we feel very good about [indiscernible]. I will try and stick to two questions, too. I think, as you pointed out, theres been a little bit of a race to gigawatts. In her efforts to "simplify" Engie, MacGregor is moving from 25 business units to 4 globally, and . But that brings me to my question actually. Ill start just to say that, I mean, youve identified, yes, two important aspects of our simplification efforts. 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. Im a lot looking forward to presenting the regional EMEA address on March 1st together with my dear colleague Ryan Demaray. Premium access for businesses and educational institutions. She has managed numerous complex industrial projects, both . 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. Net income group share stood at negative 1.5 billion. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. [Operator Instructions] We will take our first question from James Brand with Deutsche Bank. We expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. I was happy to see so many enjoying each others company. Firstly, Id like to share everyones sentiments in wishing Catherine well in her role. Renewables showed continued progress and overall operational resilience to COVID with organic growth of 11% in 2020. [Foreign Language]. Catherine, you are in a ENGIE is in a unique position, I think, as a gas network operator with a very attractive Renewables business. In that entity that we are forming, which is the object of the consultation weve talked about, there will be 34,000 roughly 74,000, sorry, 74,000 people. Our regulated networks offer stability and visibility of earnings to the group with regulatory remuneration arrangements in place through to 2024. on the development of flexible and resilient energy systems. Whilst the overarching priorities are clear, we now need to translate them into an action plan for consistent delivery. Now the other aspect, of course, is that we are obviously and we have not talked too much about it yet, but the hydrogen opportunity for us is very, very material. Again, especially when it comes to replace when it replace coal. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. It is such an exciting time to have joined ENGIE, exciting time for the group and for the energy industry as a whole. Lets now look at the outlook for 2021 starting with our capital reallocation to fund growth. Ow, nobetter ! 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. For this, I would like to say a big thank you to Judith, Paulo and Claire for their strong leadership in 2020, as they had the dual challenge of advancing the group simplification agenda whilst, at the same time, ensuring we continue to deliver essential services to our customers. Current positions of Catherine MacGregor And also, is there any possibility to reverse the decision on the Belgium life extension should the Belgium government change its stance this year? 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. La situation en France depuis plus de 50 ans You can see that on the recent months trading for renewable players. Check if your So Id be very interested to reflect to hear your first thought after you have looked at the market for gas. 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. So yes, Thermal is a good fleet for us, good asset.