Obviously, we have made the decision to exit the coal, which is run under Thermal. 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. 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. 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). For cost savings, you can change your plan at any time online in the Settings & Account section. And Judith will give you a little bit of the background and more details on the rest. I think these are really, really good questions. #beyou #beunique #beunited ENGIE Africa Engie plans to accelerate its development in renewables, by increasing the target for renewables capacity commissioned from 3 GW p.a. So our main working scenario right now is that it wont happen. *Criao da poltica nacional de incluso das pessoas 50+ no mercado de trabalho* The 3 gigawatt that we commissioned last year is in our key growth market for renewables, namely the U.S., Europe and Latin America. 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. Last but not least, visiting BV head office in Mumbai and meeting SSC and SAR management team. I would like to take this opportunity to thank all ENGIE employees who have worked so hard to deliver critical services for our customers in unprecedented conditions. Welcome again to Catherine. 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. We will then consider next steps and review future ownership options for the new entity in the second half, maximizing value and acting in the interest of all our stakeholders. And how quickly do you think it can actually contribute to your earnings, please? The second half of 2020 showed a strong recovery after second quarter, which has which was heavily impacted by COVID. We announced last December that EVBox would be listed on the New York Stock Exchange. And Im going to pass it on to Judith now for the COI details on Renewables. Yes. In terms of geography, we have a strong hold in Europe. https://waves-energy.co/maps/. We have a very nice digital platform to help us manage our assets better. This very unusual year translated into a mixed set of numbers. We will now take our next question from Emmanuel Turpin with Societe Generale. 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. We use cookies in a variety of ways to improve your experience, such as keeping NHST websites reliable and secure, personalising content and ads and to analyse how our sites are being used. For example, we significantly enhanced our renewables footprint in the U.S. #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE. 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. Her professional and personal skills will be essential assets in accelerating ENGIEs transformation. Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. 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. 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We are assessing the situation, which mainly affects renewables and supply activities. Soliane Varlet, gestionnaire de portefeuille de notre stratgie actions Women Leaders, s'entretient avec Catherine MacGregor, Directrice gnrale d'Engie, l'. I think there was another question, which was related to the calendar. [indiscernible] Sam, for putting more pressure on us. Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. 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. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Thank you very much, James, for your question. Pour viter se gchis financier avec l'argent des franais Recharge is part of DN Media Group AS. We will run processes. The negative temperature effect was roughly 100 million in France with lower gas volumes distributed in by GRDF. Check if your 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. This is value neutral over time as D&A is integrated in the regulated revenue. You may change or cancel your subscription or trial at any time online. [Operator Instructions] We will take our first question from James Brand with Deutsche Bank. I look forward to working with her in the months and years to come to deliver the Groups strategic orientations. 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. And we will now take a last question from Louis Boujard with ODDO. Regarding the organizational simplification, you mentioned complexity of the group. 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 have in the U.S. the largest development pipeline. 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. Now that makes me and that makes the team, obviously, extremely motivated and optimistic that we are going to get the benefit from these tailwinds because, as a team, we are extremely focused in making sure that we do outperform, and outperform our peers, outperform the market. So I thought, on this occasion, it would be great if you could take a few minutes just to share with us sort of your perspective on why the last few years have been so difficult for ENGIE, why the 2016 asset rotation plan didnt really deliver in the end and why the current asset rotation plan may be more successful. I just wanted to remind that given of the absence of the LTO that there is the amortization is now happening quicker. And hopefully, we can share more of that in May when we come back to you. She has spent her entire professional career working in the energy sector. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. Hopefully, thats an easy one, but would be very helpful. And on these assets, if you assume the five remaining years until 2025, its about 150 million of impact a year positive. Jusqu' l'arrive de Christel Heydemann la tte d'Orange en 2022, elle est la seule femme la tte d'une entreprise du CAC 40[7]. university 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. And as in the past, we will be very mindful of timing. And then, of course, right after that, you have hydrogen. You can still enjoy your subscription until the end of your current billing period. However, the gross COI evolution was negative 125 million mainly due to foreign exchange. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. And the second one is very bad timing. On organic evolution per business line, Renewables, Thermal and Nuclear were resilient and even grew organically. So Ill ask two questions. 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.. - Accompany our customers in their decarbonization strategies to face the climate emergency Now the 2021 guidance. My first reaction with the bonus: Wow great ! Premium access for businesses and educational institutions. There is a very, very strong will power within the team to do that. 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. 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 have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. Ow, nobetter ! Les miroirs magiques et moulins vent ne seront jamais une alternative au nuclaire franais, Let me now turn to our ESG performance. 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. We have strict criteria, and we will stick to them. But let me reassure you, there are several processes that have been launched, and so were confident that we can move at speed to really help simplify the group through the disposals. Judith, you want to start with the EVBox question? https://lnkd.in/ea25krWt But on defining the structure, does that mean we have a disposal in Q3, Q4? So here, generally, the question, how do you think about the future of the gas networks? So you say the inflection on the strategy last summer, ENGIE already has started pretty fast on that as you flagged. This included 1.7 gigawatt of hydro plants in Portugal, which benefit from long-term concession arrangements. Net recurring income group share was in line with guidance but at the bottom end of the range. All these strategic advances, which place our Group as a leader in the low-carbon transition, are the result of the exceptional commitment of all our teams! She occupied a number of roles in various geographies (Republic of Congo, the US, Malaysia, ): from Director of Business Entities (Wireline, Reservoir Characterization, Drilling, ) to Regional Division (Europe and Africa). I have one question for Judith and one for Catherine, please. We have some core competencies. In 2021, we already have hedged 80% of the production at 46. Its were rounding numbers here, as you can see, because like I said, this is our target. So the what is happening here in France on biomethane is actually quite real, and so we are now looking at potentially having sufficient volume to fully displace what will be needed in gas at the 2050 horizon. You may change or cancel your subscription or trial at any time online. Operator? One was the CapEx. Significant growth is also expected in the use of renewable gases to accelerate the energy transition. This year is marked by the unprecedented energy crisis in Europe as a result of the tragic war in Ukraine. Indeed, we had an increase a temporary increase in 2020 to 32.5%. And then the second one, its for Catherine. The commitment and mobilization of all our teams at ENGIE is truly exceptional and it is an honor to be a part of such a dedicated and forward-thinking organization! Chief Executive Officer at NOVIGE AB, Mission Innovation Champion, Innovator of the Year, Seal of Excellence European Commission, Propeller Prize - Stena Line, Glad to see all the progress Engie is doing in becoming a renewable leader. 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. Therefore our industry is [], ENGIE steps up its energy transition, targets renewables, MacGregor to supply RoRo equipment for K Lines LNG-powered newbuilds, Equinor and Engie press ahead with H2BE hydrogen project in Belgium, Engie names Catherine MacGregor as new CEO, MacGregor to supply all-electric RoRo equipment to H-Lines PCTCs, MacGregor to equip 4 more Hegh Autoliners multi-fuel PCTCs, In focus: Investments in oil, offshore wind hit a snag. So let me start then with your question on Thermal. Indeed, you can expect positive cash flow operation from our nuclear activities. Today, I am very pleased to announce a commitment to exit all coal assets in Europe by 2025 and globally by 2027, in line with our purpose to drive carbon neutrality. I think we are now about time, so I would like to thank you for your attention. So no specific things to be taken into account. cookies Cheers! We also continued to benefit from the cost actions launched in the second quarter. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet.