I just had indeed, I will stick to two questions as well, maybe a strategic 1 as well and a more detailed 1. Lets keep in mind that revenues are also indexed to inflation and will benefit from that increase over time. So these are some of the things that we are excited about when we think about our network assets, and we like it. Chef d'Agence Filire Vente Centre Ouest chez GRDF, Thank you Catherine Fiamma MacGregor for your post that combine strategy, progress and well-balanced energy mix (#renewable #gaz #power) to confirm meaning and a consistent vision to our company, not to mention the recognition. Recharge is part of DN Media Group. I think there was another question, which was related to the calendar. Biography. We are expecting this to happen in a matter of weeks, following the closing of the SPAC transaction. On the impact, the positive impact on 2021, on the impairment, it was about 2 billion related to goodwill. Its, for sure, a large part of the investment case. We have a high performing gas fleet, as you know, which is very important in our mind to bring the flexibility to the system. 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. Euro erzielen. 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]. 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. - Accompany our customers in their decarbonization strategies to face the climate emergency Nothing much more structural than that really, James, on supply improvement. You can still enjoy your subscription until the end of your current billing period. So in general, we have 31-gigawatt portfolio. 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. Starting with our biggest contributor, Latin America, we had 195 million headwind from FX and an unfavorable energy allocation for hydro in Brazil. No, thank you. Thank you #HariPrasad #PulakPrakash #PallavGogoi #AmitGhosh, Player Representation and Scouting for F&F Sports, Two Cows Explain Economics Better Than Any Class Before that she had a 23-year career with oilfield services giant Schlumberger, ending as president of the drilling business. This decision, effective as from January 1st 2021, is the result of a selection process, led by Jean-Pierre Clamadieu, Franoise Malrieu and members of the Appointments, Compensation and Governance Committee, following the highest standards of governance. Let me now focus on the evolution of net debt and on our leverage ratios. And then I also had a question on the coal phase out. We use Harnessing 35 years of expertise to power the future of Energy and Water with data-driven solutions. 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 Thank you very much for your attention, and I would like to turn now the line back to the operator for the Q&A session. EBITDA and COI, at 9.3 billion and 4.6 billion, were down by 11% and 21%, respectively, on a gross basis. Yes. In our asset-light activities, we have a healthy order book and a project backlog of over 11 billion, offering good visibility for 2021. Notre lectricit est dj propre We think its important to have a system play on renewables. Lastly, no change on the rating since mid-November, in line with the strong investment grade we aimed for. Its a pleasure to welcome Catherine to ENGIE, and Im looking forward to executing our strategic plan together. We will now take the next question from Rob Pulleyn with Morgan Stanley. Check if your Good morning, everyone. or 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. Also on the same point, risking up or risking down in the future strategy, what is your view on how the risk profile for ENGIE should change going forward? And lets now, indeed, look at our priorities for sustainable long-term value creation. And I look forward to leveraging their strengths to deliver on a full agenda in such critical times for the energy industry and for ENGIE. We are also expecting a year-on-year accretion resulting from the partial disposal of SUEZ and EVBox, which contributed negatively in 2020. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. In addition, her appointment as a board member of Engie will be proposed for approval during the General Shareholders Meeting in 2021. Let me now turn to our ESG performance. 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. 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. To Engie in my case. So without going into any specific, youre right to say that it does contribute to the simplification efforts. I have one question for Judith and one for Catherine, please. fusion, personalising content and ads, providing social media features and to https://www.linkedin.com/in/catherine-fiamma-macgregor-3008171/. And Im really I am personally convinced, enthusiastic about the idea of having a very sharp focus on capital allocation making sure that all of our managerial efforts go in the direction that weve announced, and well be able to show very positive results. To read more about DN Media Group, We also dynamically managed our hybrid bonds, which are showing an average outstanding amount of 3.9 billion. In other geographies, we benefited from commissioning new capacity in the United States and from higher wind production. Weve seen peers in renewables showing a bit of a lack thereof of investment discipline, among other thing, the auction in UK offshore. The French group last year pledged to invest 12bn ($13.1bn) in its 2019-21 energy transition programme, and was on track to install 9GW of renewables in that period. Access to customer sites was much reduced during the strict lockdowns of the second quarter 2020, and we were not able to perform various services. When I think of hydrogen for ENGIE, I think all of our activities, all of our mtier benefit. Supplies offered a net COVID impact of roughly 290 million mainly due to lower consumption, bad debt and lower B2C services. Let me know below In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. These headwinds were partially offset by various one-offs, including an internal negative 2019 one-off mirrored in Networks. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. We expect to invest between 5.5 billion and 6 billion in growth CapEx with over 90% allocated to our strategic priorities. 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! Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. You certainly have a lot of people out here who want you to be very successful. As a leader in gas networks, we are playing a critical role in enabling an affordable and smooth energy transition, and we are promoting a progressive increase in the role of renewable gases. But in short, we have big ambition, but we will be disciplined. on average over the medium-term, while increasing the number of renewables projects retained on its balance sheet. 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. 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. 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. Sure. Are you working on a new organizational format? click here. ), has announced that he will retire on 31 CGG announced today (March 2) the appointment of Jrme Serve as Group Chief Financial Officer. Or is it your budget of the COI for these businesses in 2021? Please. Pour les articles homonymes, voir MacGregor. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. Thank you, Catherine, and good morning, everybody. And Im going to pass it on to Judith to comment maybe on the other questions. And we will now take our next question from Ajay Patel with Goldman Sachs. And given that theyre contracted, to maybe accelerate other areas of the business? Published on 2 October 2020 at 12:48pm EST on Uk.Reuters. Battery storage is expensive, produces no net power, has a very high LCA and basically impossible at the needed grid size. Ses parents, d'origine corse et basque[1], sont professeurs. Overall, these positive factors are expected to more than offset year-on-year negative evolutions. Lower results from SUEZ also impacted Client Solutions COI by approximately 160 million. Ow, nobetter ! 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. About Catherine MacGregor MacGregor became the CEO of French energy company Engie in January 2021. 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. She was in charge of the entitys IPO. - Contribute to measures to support purchasing power Higher D&A was mainly due to accelerated amortization of some distribution assets. 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 yes, Thermal is a good fleet for us, good asset. 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. The 48-year-old MacGregor replaces Isabelle Kocher, who was ousted by the Engie board in February, ensuring that a woman maintains a place at the top table of a major European utility. This change led to an impairment, which Judith will cover shortly. On the next slide, you can see Client Solutions, which faced unprecedented headwinds in 2020. More information, our agenda as well as the opportunity to register are available here: https://fusion.concur.com/. #buckminsterfuller #trimtab #climatechange. Yes. You can see that on the recent months trading for renewable players. I would say that some of the things that were decided last year with these strategic orientations, I am very, very convinced that well address some of the shortfalls that can explain some of the ENGIEs underperformance in the past few years. And Judith, you want to comment, please, on the impairment? 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. But what is the tax rate thats assumed in the guidance and what DBpSO has assumed? Some of your peers there have convinced the market that they transitioned to hydrogen. De mme pour Angeles Garcia Poveda, prsidente du conseil d'administration de Legrand et Barbara Dalibard, prsidente du conseil de surveillance de Michelin. So we feel very good about [indiscernible]. Yes. personalising content and ads, providing social media features and to For example, we significantly enhanced our renewables footprint in the U.S. In Client Solutions, overall, we are expecting a strong recovery from COVID, albeit with a relatively slower recovery for asset-light activities. All information you need to have a pleasant time during the event.