ENGIE SA (OTCPK:ENGIY) Full Year 2020 Earnings Conference Call February 26, 2021 4:00 AM ET, Aarti Singhal Director of Investor Relations, Catherine MacGregor Chief Executive Officer, Judith Hartmann Chief Financial Officer. Regarding the organizational simplification, you mentioned complexity of the group. Compare Standard and Premium Digital here. In addition, her appointment as Board member of the Group will be proposed for approval during the General Shareholders Meeting in 2021. We think, in general, gas is going to be important in this energy transition. offers FT membership to read for free. We want to develop and further our differentiation. 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? 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. Elle a t leve au Maroc[1]. Many thoughtful leaders throw up their arms when it comes to taking action on climate change, thinking, understandably, that their company is just a drop in the bucket. She was in charge of the entitys IPO. And so were keeping 40%. 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.. Catherine MacGregor | 2020 Most Powerful Women International Her main mission was to prepare for the spin-off and IPO of this entity, with energy transition at the heart of the strategy. Its been a period in which the sector was exceptionally strong. 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. Does this mean that Equans is now getting nothing? 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.. 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? We have strict criteria, and we will stick to them. Altogether, these units can contribute to a yearly production of up to 3.9 terawatt hours, equating to the annual gas consumption for hitting approximately one million new build homes in France. We announced last December that EVBox would be listed on the New York Stock Exchange. We also posted higher financial costs. For a full comparison of Standard and Premium Digital, click here. So again, of course, I mean, it 2020 was heavily impacted. 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. We do think that we have quite a specific signature within ENGIE, and we do like our gas assets. But time will tell. Higher D&A was mainly due to accelerated amortization of some distribution assets. Our near-term priority in the region is to commission two major electricity transmission projects. 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 During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. And then, of course, you also remember that, in 2020, we have decided to more consolidation where it makes strategic and financial sense, as it was mentioned earlier. Obviously, you did signal that youd be ramping up CapEx. Engie which is 24%-owned by the French government was formerly the gas monopoly operator known as GDF. Because there was a time when that business was making around 600 million of COI. You can see that on the recent months trading for renewable players. About Catherine MacGregor MacGregor became the CEO of French energy company Engie in January 2021. https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future/ This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. Thats one thing. We think its important to have a system play on renewables. At Climate Week NYC 2021, the CEO of ENGIE, Catherine MacGregor explains how ENGIE will actively participate in decarbonizing its emissions by 2030. And its hard to know theres obviously been some pretty big changes in competitive dynamics over the last couple of years. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. So naturally, were landing more just below a 100 million figure for 2021. And finally, we also strengthened our position in the rapidly growing market of corporate PPAs with over 1.5 gigawatts of contracts signed in 2020. So let me start then with your question on Thermal. ENGIE thanks you for your participation. Catherine MacGregor - Chief . But we really want to focus on a return-based growth strategy. The issue of having mtiers and activities that are so different from each other and I think weve talked a little bit about the multi-technical services, as an example, that require a management focus, a capital allocation policy, a system and attention to every cent that you have to spend, which is not necessarily something that is ENGIE DNA. Vocs conseguem nos apoiar? The Board of Directors announces the appointment of Catherine MacGregor Katherine MacGregor - Biography Price is going up. So I would like to hear your opinion, how maybe your story might be slightly different from electric renewables players, how we maybe think about the gas network as a funding option for the renewables growth. Yes. on the development of flexible and resilient energy systems. 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. And yes, let me start by saying also welcome and wishing you success in the new role. Again, especially when it comes to replace when it replace coal. And sometimes, its okay to lose auctions if we dont get the right returns. En juillet 2019, elle est candidate au poste de prsidente de Schlumberger, mais le conseil d'administration prfre nommer Olivier Le Peuch. Okay. 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. 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. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. At the event, we were pleased to highlight how #Masdar is working with our partners in Azerbaijan to develop world-class clean energy projects like the 230 MW Garadagh Solar PV Plant, with further agreements to develop up to 10GW of clean energy capacity across #onshorewind, #offshorewind, #solar, and #greenhydrogen projects. We invested 7.7 billion of CapEx in total. 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. 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. So we feel very good about [indiscernible]. And as in the past, we will be very mindful of timing. One second, it will be over soon. 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. Before that she had a 23-year career with oilfield services giant Schlumberger, ending as president of the drilling business. - Contribute to measures to support purchasing power cookies Yes, two topics that you were talking about, Peter. 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. In Supply, the outlook is improving, as these activities should strongly recover from COVID and on the assumption of temperature normalization. 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. Could you just give us an idea on the potential accounting impact of the operations that you are doing on this subsidiary? - Play an important role in ensuring security of supply for France and Europe The 281 million year-on-year COI decrease notably reflects warm temperatures and higher D&A in France. 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. 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. And weve announced that there might be a second step, but we will obviously cross that bridge when it comes to it. Judith, you want to start with the EVBox question? 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. [1] She started her career on stage in New York City, in theatres off and on Broadway, credited as Scottie MacGregor . hosting the engineering activities. And then, of course, right after that, you have hydrogen. Regarding Client Solutions project backlog, we recorded a total increase of 5% since December 2019, representing approximately 13 months of activity. 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. Solvay Alpharetta celebrates Black History Month. What an insightful stay in India this week starting with a technical conference on #hydrogen #certification at #IndiaEnergyWeek then meetings with 7 industrial players developing hydrogen projects across #India. So yes, Thermal is a good fleet for us, good asset. On the other hand, we, obviously, want stability in a power system. I think, as you pointed out, theres been a little bit of a race to gigawatts. Offshore wind is typically much longer. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. Some of your peers there have convinced the market that they transitioned to hydrogen. 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. So thats a positive. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Engie board set to appoint Catherine MacGregor as new CEO. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. So I think this is a key point Id be interested in. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Judith? 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. 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. Elle travaille pendant 23 ans chez Schlumberger. A graduate of the Paris cole Centrale (CentraleSuplec), Catherine MacGregor has spent her entire professional career working in the energy sector, including 23 years with Schlumberger, the world's leading supplier of technologies for characterizing, drilling, producing and processing reservoirs for the oil and gas sector. You mentioned diversity of vast diversity of business line, et cetera. Its not like a 2020 event. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. Elle est alors nomme prsidente New Ventures de TechnipFMC. Within this guidance, we have included our current estimate of the potential impact. Aged 48 and a graduate of cole Centrale Paris, Catherine MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Minority interests were lower mainly due to lower contributions from our listed entities in Latin America and to the scope effect of Glow. Let me know below Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. From November 1st DN Media Group is responsible for controlling your data on Recharge. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. What you would be looking for? You can still enjoy your subscription until the end of your current billing period. 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. 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. En 2020, elle est pressentie pour diriger Technip Energies, une socit en cours de cration base Paris d'environ 12000personnes issue de la scission de TechnipFMC en deux entits spares. Catherine Fiamma MacGregor is an Influencer, https://noviocean.energy/novigenews-oeec-startup-award-green-tech-net-zero-future, https://www12.senado.leg.br/ecidadania/visualizacaoideia?id=167822. We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. And we will now take our next question from Vincent Ayral with JPMorgan. Problem: 40% of the hours of the month there is minimum wind and zero sun. I mentioned earlier two things actually. This was partly offset by a temporary higher effective recurring tax rate at 32.5% in 2020 versus 28.2% in 2019. And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. This very unusual year translated into a mixed set of numbers. French Networks had limited COVID impact also mainly on distributed gas volumes. Im just wondering, youve identified sort of the identity of Renewables, Networks and across Client Solutions. And what is your philosophy there? Stepping back.

Seating Chart For Charlotte Motor Speedway, Hamilton County Building Permits Search, Parcel Viewer Venango, Articles C