hosting the engineering activities.
Now the guidance for 2021. On your two questions, 1 was on the tax rate.
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Engie board set to appoint Catherine MacGregor as new CEO 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. 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. Selbst im Worst-Case-Szenario komme Engie dann auf eine Bewertung mit einem KGV von rund 10. 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. This was due to higher contributions from entities with minorities, which fully contributed at EBITDA and COI levels but only contributed at share at net recurring income group share level. And does is your vision about full ownership versus minorities guiding your capital allocation going forward? Obviously, we have made the decision to exit the coal, which is run under Thermal. Learn more in our Cookie Policy. Obviously, you did signal that youd be ramping up CapEx. She has spent her entire career in the energy sector. And with that, Im pleased to hand you over to Catherine. The 0.1 billion, is this a 2020 contribution of the businesses youre going to sell? And also, 4 of them clearly align with the business activities that are core and are very much part of our strategic priorities. And still on the asset rotation, this leaves you probably, I dont know, 12 billion of total proceeds, maybe overall when we put everything all together. 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. [1] She started her career on stage in New York City, in theatres off and on Broadway, credited as Scottie MacGregor . 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! And importantly, we reaffirm our dividend policy, which relies on a 65% to 75% payout ratio on the basis of net recurring income group share. Catherine MacGregor will join Engie as CEO. We also increased the share of renewables in our portfolio to 31%, and I will cover this in more details shortly. - Play an important role in ensuring security of supply for France and Europe https://noviocean.energy/documents/ And so were keeping 40%. You can see that on the recent months trading for renewable players. cookies This translates to a dividend of 0.53, which will be proposed for shareholder approval at our AGM on the 20th of May. With our strong local presence in key geographies and leading capabilities across the power generation value chain, including in energy management, which is a key for commercializing renewable energy, we are confident in our ability to drive long-term value creation from this renewables growth. Good luck with the new role, Catherine. And then the second one, its for Catherine. And so our thermal fleet has a very, very important role to play there. Thats really clear. To conclude on Thermal, let me highlight the demothballing of two Dutch gas units, demonstrating this fleets flexibility to take advantage of market opportunities. I have a couple of questions, 1 for Catherine and 1 for Judith. We are a smaller company than Engie normally would partner with. Curious as to what my Linkedin connections think. Are you working on a new organizational format? Compared to 2020 guidance, Im pleased that both EBITDA and COI stood above the ranges we indicated last summer. Aarti Singhal - Director of Investor Relations. And the second one, if I may ask, around Client Solutions. And maybe the last point, which is around performance culture, which I think can be improved within ENGIE, and here again, I can assess that the first reaction to this discussion within the company leads me to believe that we can make some inroads on that topic as well. Catherine, the floor is yours. For a full comparison of Standard and Premium Digital, click here. We completed the SUEZ transaction in October and launched further strategic reviews. Catherine MacGregor chez Engie, Christel Heydemann, chez Orange, et Estelle Brachlianoff, chez Veolia, sortent du lot. The reversal of a positive internal one-off from the fourth quarter of 2019 offset in supply as well as the first effect of the RAB remuneration rate decreases also contributed to this lower COI in France. 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. or 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. But is it bad? Next, a few words on the bridge from EBITDA to net recurring income group share. We invested 7.7 billion of CapEx in total. And then, of course, in terms of Thermal, we will be very opportunistic.
Catherine MacGregor | 2021 Most Powerful Women International | Fortune And for the first time, to our Ocean Winds joint venture with EDPR, we commissioned both fixed and floating offshore wind. Let me know below Despite unfavorable temperature, our district heating and cooling and on-site generation activities were resilient. H2, Not related to what I normally post, but I saw an article this morning from #NewstalkZB and thought it was brilliant. I would like to pay tribute to their mobilization, which has enabled us to: In other words, direct stable energy is needed these hours. And so obviously, a decision that we communicated today is based on a scenario where it is unlikely that the lifetime extension happens. So maybe I will start with your last question, which is around the decision on nuclear. Second, change in working capital requirements from activities, excluding energy management, had an impact of negative 200 million. 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. This included 1.7 gigawatt of hydro plants in Portugal, which benefit from long-term concession arrangements. Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. 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. I will try and stick to two questions, too. We have a team of about 300 developers who are really good at what they do. MacGregor joins Engie as it embarks on a major push into renewables and clean energy. In addition, we had higher contributions from power transmission lines in Brazil as their construction is progressing well. And that will be something that we will be describing a bit more in details in May. organisation And sorry, just a follow-up on the CapEx. Notre lectricit est dj propre 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. And then, of course, now this partial sell down that were planning into a SPAC transaction. For more information and how to manage your privacy settings, please refer to our privacy and cookie policies. 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. Standard Digital includes access to a wealth of global news, analysis and expert opinion. We will now take the next question from Rob Pulleyn with Morgan Stanley. We will now take our next question from Emmanuel Turpin with Societe Generale. [indiscernible] Sam, for putting more pressure on us. 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. First, you will hear from our new CEO, Catherine MacGregor, on the highlights of 2020, followed by our CFO, Judith Hartmann, on our financial performance. Following the launch of the new strategic orientation in July, ENGIE completed the disposal of its 29.9% shareholding in SUEZ in October. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for 1 for 4 weeks, You will be billed 65 per month after the trial ends, Russian far-right fighter claims border stunt exposes Putins weakness, Germany seeks to buy Leopard tanks from Switzerland, Germany and Italy stall EU ban on combustion engines, Ukraine asks EU for 250,000 artillery shells a month, Russia on alert after reconnaissance group crosses over from Ukraine, Panic station at Fox News: how the Murdochs agonised over Trumps loss, Saudi owner of Londons most expensive house sued over alleged unpaid private jet bills, UK housing market braced for make-or-break spring, UK cabbage king turns to plant-based proteins, Airlines plan to sue Dutch government over Schiphol airport flight cap, There are no domestic equity investors: why companies are fleeing Londons stock market, Live news updates from March 3: Amazon pauses HQ2 construction, UK regulators launch LME probe, Deluge of inflation data pushes US borrowing costs to 2007 levels, FCA regulator blamed for Arms decision to shun London listing, Clutching Warrens letter, Im still positive on stocks.
Catherine MacGregor Wikipdia Yes. So thank you very much, and bye-bye. 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. I have two questions, and I continue with the trend, 1 for Catherine and 1 on the details for Judith, please. Her appointment as a member of the Group's Board of Directors will be proposed for approval at the General Shareholders' Meeting in 2021. Some of your peers there have convinced the market that they transitioned to hydrogen. She occupied a number of roles within [] 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. So two questions, please. Judith, you have 1 so about 0.1 billion of dilution at the COI level put in your guidance for 2021. And if so, what quantity? Since 2007, she held multiple senior management including global positions as Group HR Director or head of strategic activities for the company. The biggest, of course, remains Renewables. COVID weighed particularly heavily on Client Solutions and on Supply. I have only started to get to know them, and Im already extremely impressed by their engagement, their professionalism and their talent. How old is Ms MacGregor? Currently, Catherine MacGregor holds the position of Chief Executive Officer for ENGIE SA. And maybe more importantly, where do you see subsidiary in five years and what it could contribute to your P&L considering the potential growth of these assets? The first one is on strategy. Dans ce poste prestigieux et trs expos politiquement, elle succde Isabelle Kocher, partie le 24 fvrier 2020 et remplace provisoirement par Claire Waysand. 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. personalising content and ads, providing social media features and to We are investing significantly in these activities to ensure safety and reliability as well as improving energy efficiency. You certainly have a lot of people out here who want you to be very successful. We also posted higher financial costs. Hosted by His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, my dear friend His Excellency Parviz Shahbazov, Minister of Energy of the Republic of Azerbaijan, and Kadri Simson, EU Commissioner for Energy, this is an important forum for advancing Europes #cleanenergy ambitions. #solvaylife #workculture #lovemyworkfamily, Celebrating our diverse HR team during the HR Seminar in UAE.
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