Engie: change in the composition of the board of directors – 02/23/2024 at 6:11 p.m.

(AOF) – The board of directors of Engie has decided to propose to the general meeting of April 30, 2024 the appointment of Michel Giannuzzi, as an independent director, to replace Lord Peter Ricketts of Shortlands whose mandate will expire expiring at the end of this general meeting. In addition, the group also proposed the renewal of the mandate of independent director of Fabrice Brégier, whose mandate will also expire.

“Michel Giannuzzi’s experience as a manager of listed industrial companies as well as his international experience, his knowledge of industrial sectors that consume large amounts of energy and decarbonization issues, will complement the experiences and skills present on the board of directors. “, explains Engie.

If the general meeting of April 30, 2024 follows the recommendations of the board on this appointment and on the renewal that will be proposed to it, the number of directors will remain at 14, including 60% independent directors and 50% women.


Key points

– Group born in 2008 from the GDF-Suez merger, world leader in energy transition, leading global producer of non-nuclear electricity, leading provider of energy efficiency services, second provider of environmental services;

-Activity of €93.3 billion with strong positions in Europe ahead of America;

– Business model based on control of the value chain and on refocusing on 5 businesses: renewables, infrastructure, energy solutions, energy production & supply and energy and nuclear management;

– Capital controlled 23.64% by the State, alongside the Caisse des Dépôts (4.59%), and 3.2% by employees, Jean-Pierre Clamadieu chairing the board of directors and Catherine MacGregor providing general management;

-Controlled financial structure with €24.1 billion in net debt giving a leverage effect of 2.8, €20.9 billion in cash


– Annual growth strategy for Renewables increased to 4 GW between 2022-25 and 6 GW between 2026-30 via:

– simplification of the group with 4 Business Units and an international presence reduced to less than 30 countries in 2023,

– deployment of “BRIGHT”, specialized in multi-technical services,

– At least €11 billion in disposals (completed at the end of 2022) and €15-16 billion in growth investments (€5.5 billion in 2022, in renewables, infrastructure and energy solutions), at least €11 billion in disposals and €15 to €16 billion in growth investments;

-hence an increase in profits (€3.8 to €4.4 billion in 2024 and €4.1 to €4.7 billion in 2025), a debt leverage effect of less than 4 and a distribution rate of 65 to 75% until 2023, with a floor of €0.65.

– Innovation strategy organized into transversal roadmaps: Horizons: 1/ process efficiency, 2/ diffusion of new technologies, 3/ monitoring and research for future growth / Ecosystems: 23 thematic Labs, Engie Factories, internal platforms (DigiPlace , Common Data, Hub, Inner Source);

– Environmental strategy aiming for carbon neutrality in 2045: 2 objectives for 2030: reduction to 43 Mt of CO2 emissions compared to 2017 (60 Mt) and increase to 58%, compared to 38% at the end of 2022, of renewable energies in electricity production ; total exit from coal (2.6% of the total electricity portfolio) in Europe in 2025 and elsewhere in 2027,

– Strong growth in profitability thanks to the leading position in Brazil, a key market for the group, the CCGT fleet (the largest in Europe), renewables and long-term partnerships with gas producers, such as Gazprom.



– Normalization of net profitability after a year 2022 impacted in particular by the Russian-Ukrainian conflict (€1 billion) and Belgian nuclear power (€1.2 billion)…

Restructuring of Belgian nuclear power: closure of 2 reactors, extension of the activity of 2 others by 10 years and dispute over the amount of provisions for dismantling;

Normalization of net profitability after a year 2022 impacted in particular by the Russian-Ukrainian conflict (€1 billion) and Belgian nuclear power (€1.2 billion)…;

2023 objective of a recurring net profit between 3.8 and 4 billion;

2022 dividend of €1.4.

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