catherine macgregor engie bio11 Apr catherine macgregor engie bio
Her main mission was to prepare for the spin-off and IPO of Technip Energies, for which she put the energy transition at the heart of the strategy. Within this guidance, we have included our current estimate of the potential impact. You mentioned diversity of vast diversity of business line, et cetera. I guess, whats the kind of your average period of sort of non-productive capital work in progress? https://waves-energy.co/maps/. EBITDA and COI were both down significantly from last year mainly due to the impact of the pandemic. We remain focused on executing disposals at pace, continuing to simplify the group, creating value and reallocating capital towards growth. Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. We will now take our next question from Peter Bisztyga with Bank of America. Before I say more on this, let me review the groups overall 2020 performance. So its a little bit of a total team, but we at this stage, that decision from the government hasnt been explicit. So naturally, were landing more just below a 100 million figure for 2021. Moving to Networks, which were resilient despite the pandemic. So youve been talking about investment discipline. This was also driven by higher operational contribution of Brazilian assets and by improved performance from Middle East gas contracted activities. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. 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 . 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. And I think, namely complexity is one thing. Elle a t leve au Maroc[1]. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Okay. 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. Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. Check if your For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. Officer of ENGIE SA since . Overall, these positive factors are expected to more than offset year-on-year negative evolutions. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. A very fine, humane gesture that you promised your ENGIE colleagues. Its not like a 2020 event. university For example, last year, 91 additional biomethane production units were connected to the French gas grids, and over 85% of these were connected to GRDF. You can store it. It honors and commits me. On the 100 million, quite frankly, there isnt any unusuals that you should assume. Before I share my view on 2021, here are our 2020 financial highlights. We also suffer from the same crisis and have also contributed to this, especially in the Corona years. This included 4 billion of growth CapEx, almost exclusively in our areas of strategic growth with approximately 40% in renewables, 40% in networks, and 15% in asset-based Client Solutions. In terms of geography, we have a strong hold in Europe. cookies , Dear Catherine, In terms of operational performance, I am pleased that the group made progress at pace despite the challenging backdrop. And the second one is very bad timing. Welcome to the sector, indeed. 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. So here, generally, the question, how do you think about the future of the gas networks? So Paulo, Ccile, Edouard and Sbastien will be obviously leading this organization effort, which I very, very much look forward to, indeed, seeing simplified over the coming months. We have some core competencies. And we will now take our next question from Vincent Ayral with JPMorgan. The Board of Directors decided on Catherine MacGregor's appointment as ENGIE's Chief Executive Officer on 2 October last year. Ocean Winds to rival Orsted as Engie and EDPR unveil new offshore giant, Only female CEO of a major European utility sacked by board. Compare Standard and Premium Digital here. 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). Indeed, you can expect positive cash flow operation from our nuclear activities. My first reaction with the bonus: Wow great ! Now this is mainly provided by fossils, the reason CO2 emissions are increasing since 2015, not decreasing. So hopefully, this helps. Thats a good clarification. And then the second question is more for Judith. And so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. This growth will be partly offset by a lower benefit from the GFOM ruling in Brazil and by the assumed FX deterioration. So no impact there, of course, on G&A reduction and about 800 million of assets. #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE. Now of course, its going to depend on when its closing, at what price, but it will be a few hundred million. Catherine will then come back and share our priorities. 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! on the development of flexible and resilient energy systems. Estabelecer as diretrizes legais e normativas para incentivar a contratao de pessoas com 50 anos ou mais nas organizaes privadas atravs da reduo de impostos sobre a folha destes empregados. Does this mean that Equans is now getting nothing? Maybe I will start with your second question, which relates to the coal used in DHC. 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. And so were excited about this transaction. ENGIE thanks you for your participation. We are facing an unparalleled opportunity to play a clear and meaningful role in tackling climate change. This will mean a transition based on a combination of electrification and decarbonization of gas as well as on the development of flexible and resilient energy systems. 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. Currently, we have 3 gigawatts under construction for commissioning in 2021, and we are on track to achieve the 2019 target of commissioning 9 gigawatts in three years by the end of this year. 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. 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. These headwinds were partly offset by a 700 million positive change in working capital requirements from energy management activities driven by dynamic management of margin calls in 2020 in a context of extreme volatility of commodity prices. 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. For example, we significantly enhanced our renewables footprint in the U.S. 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. We are a media company, specifically facilitating the maritime and offshore industry. And first question is for Catherine MacGregor. To read more about DN Media Group, 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. And so we consider that these are going to be very important in the near term at least in order to maintain a power system that is both robust and affordable, which was some of the features that I described in my talk, as extremely, extremely important for this energy transition. She has spent her entire professional career working in the energy sector. G&A was up mainly because of acquisitions, asset commissioning and accelerated amortization for some French gas distribution assets. On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. We think its important to have a system play on renewables. 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. I am very pleased that Jrme Stubler, who has more than 30 years' experience in the construction industry, joined us recently and will be leading this important project. Pour les articles homonymes, voir MacGregor. Yes. Thank you very much, Judith. 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. CEO - Engie. [indiscernible] Sam, for putting more pressure on us. Operator? 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. #Renewables: We have commissioned 2.5 GW of new #renewableenergy capacity since January and are on track to reach 4 GW by the end of the year. So let me start then with your question on Thermal. We also rapidly launched strategic reviews of businesses, including part of Client Solutions, GTT and ENGIE EPS. 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. We will now take our next question from Sam Arie with Union Bank of Switzerland. Our focus is on disciplined investment through organic growth and through targeted acquisitions that offer good returns. From 2013 to 2016, she served as President Europe & Africa at Schlumberger, before being promoted in 2017 to President of the group's drilling activity, based in London. And on the availability, given that last year was the last LTO maintenance, we are confident on good availability for the years to come. And I just wanted maybe to clarify that the government has not explicitly made the decision. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Catherine MacGregor est elle-mme mre de deux filles[2]. These headwinds were partly offset by the outperformance of GEM activities on the back of market volatility. French giant Engie has concluded its search for the new chief executive officer, naming Catherine MacGregor to the position. I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. We use your data to ensure you have a secure and enjoyable user experience when visiting our site. Recharge is part of DN Media Group. Catherine Macgregor (Courtesy of Engie) MacGregor began her career at Schlumberger in 1995, where she spent 23 years in important positions on all continents. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. 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. And how quickly do you think it can actually contribute to your earnings, please? So its a huge project. 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. However, our results were ahead of our expectations on both metrics, and this was driven by the fact that the second half confinements were lighter in our main markets and that we adapted our processes, contributing to improved activity levels. Its been a period in which the sector was exceptionally strong. From 2019 to 2020, she was a member of TechnipFMC Executive Committee and the head of Technip Energies, hosting the engineering activities. Thank you. 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. Premium access for businesses and educational institutions. And what is your philosophy there? Lemjed Bouzekri Thuli MOLOTO Bhupendra Singh Francisca Iturrieta Amadori Berivan Szgn, So pleased that people liked my post on trim tabs. We expect financial performance to improve significantly from 2020 driven by a combination of strong recovery from COVID impacts, growth in renewables and international networks, improved nuclear availability and higher achieved price, and reversal of warm weather effects. 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. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. Judith, you want to start with the EVBox question? We announced last December that EVBox would be listed on the New York Stock Exchange. These projects could participate in the Belgium capacity remuneration market auctions in the second half of this year once approved by the European authorities. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. No, thank you. Following which, as usual, well open the lines for Q&A. Il serait pertinent de se concentrer sur l'aprs nuclaire, Obviously, you did signal that youd be ramping up CapEx. 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. In green mobility, were a leading global provider of smart charging solutions for electric vehicles through EVBox, a start-up we acquired in 2017. Head of Core Laboratories US - Alpharetta Site Manager, Thanks to Solvay Alpharetta employees Michael O'Keeffe and Edna Carbajal for reaching out to students in Dawson county GA for their junior high school career fair and mock interview days. And so the number that I quoted, which was the injection that we did last year, you start to see that it becomes meaningful. 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. 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. This has been a concern for the market. Catherine MacGregor joined the ENGIE group on 1 January 2021 as Chief Executive Officer. Then rapidly followed: "what am I gonna use that for ? Economic net debt-to-EBITDA ratio was four times stable compared with December 2019 and better than 2020 guidance. 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. This is value neutral over time as D&A is integrated in the regulated revenue. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. modifier - modifier le code - modifier Wikidata. And then the second one, its for Catherine. #economics #business #culture, Chief Executive Officer at Masdar (Abu Dhabi Future Energy Company). Elle s'intresse notamment l'utilisation de la sismique 3D pour la rcupration assiste du ptrole[5]. I'm looking forward to continuing to make a difference together. 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. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. We want to develop and further our differentiation. I would love to hear from you. Catherine was President of Technip Energies at TechnipFMC, and President of Drilling at Schlumberger. organisation Sure. Ladies and gentlemen, this concludes this conference call. For cost savings, you can change your plan at any time online in the Settings & Account section. Standard Digital includes access to a wealth of global news, analysis and expert opinion. currently to 4 GW p.a. It is a great source, among others, of motivation and satisfaction to continue the (so essential) low-caborn transition in an extremely challenging environment , | Financial Reporting |Taxation| Month, Year-end Closings |Corporate Accounting| Financial Statement Analysis| SAP Hana FICO |IFRS. Please disable your ad-blocker and refresh. And we will now take our next question from Ajay Patel with Goldman Sachs. Regarding COVID, our projections assume restrictions similar to the fourth quarter 2020 and a gradual easing over 2021. We have also good fleet in Middle East and also Latin America. Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. Euro erzielen. And Im going to pass it on to Judith to comment maybe on the other questions. Now turning to Networks. We have a French-regulated asset base of 28 billion, which makes us one of Europes largest gas network operators and a growing footprint in networks internationally. COI was adversely impacted by roughly 300 million due to foreign exchange and by an aggregate negative scope effect of 75 million. In Renewables, we expect growth from asset commissioning in the United States from higher achieved prices for French hydro and from the potential positive effect of the CNR concession extension. Also from my side, Catherine, a very warm welcome to the sector and wishing you all the best. So again, of course, I mean, it 2020 was heavily impacted. How old is Ms MacGregor? Our environment is changing. And part of this feedstock sometimes continue to rely on coal. How quickly can that new CapEx sort of translate into earnings? You have, of course, in mind, that we have committed to fund our waste provision until 2025. These negative figures were partly offset by capital gains mainly coming from the SUEZ transaction. In Nuclear, following the announcements of the Belgian government in Q4 2020, it has been decided to stop all preparation works that would allow a 20-year extension of two units beyond 2025, as it seems unlikely that such an extension can take place given the technical and the regulatory constraints. We have 101 gigawatt of gross power generation capacity, of which around 30% from renewables. 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. Thank you very much, Aarti, and good morning, everyone. But just one observation is a key part of success, I think, for some of your peers has been laying out quite detailed guidance over a 3-year period. 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. Sign up for more in-depth articles and insights. Our near-term priority in the region is to commission two major electricity transmission projects. To this end, we expect to invest between 5.5 billion to 6 billion growth CapEx, with over 90% of this in renewables, networks and asset-based client solutions. Therefore, we do continue that we do think that gas will continue to play a very key role.
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