Allegion Plc · NYSE:ALLE
Allegion — Q1 2019 Earnings Presentation
17 slides from Allegion's earnings presentation, Apr 25, 2019
Slide 1: Allegion First-Quarter 2019 Results
Allegion First-Quarter 2019 Results April 25, 2019
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company
Slide 3: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures The Company presents operating income, operating margin, net earnings and diluted earnings per share (EPS) on both a U.S. GAAP basis and on an adjusted (non-GAAP) basis, revenue growth on a U.S. GAAP basis and organic revenue growth on a non-GAAP basis, and adjust
Slide 4: 2019 First Quarter Update
2019 First Quarter Update Solid Revenue Solid total top-line growth (6.8%) and organic growth (5.8%) in the quarter – Growth¹ driven by the Americas region Electronics Americas electronics growth of nearly 10% in the quarter Non-residential U.S. end markets remain healthy – continued strength in End
Slide 5: First-Quarter Financial Summary
First-Quarter Financial Summary 1 1 1 1 Revenue Adjusted OI Margin Adjusted EPS YTD ACF $Millions $Millions Up Up Up Down 6.8% 10 bps 10.0% 32.4% $655.0 17.0% 17.1% $0.88 $613.1 $0.80 -$18.8 -$24.9 Q1 YTD Q1 YTD Q1 18 Q1 19 Q1 18 Q1 19 Q1 18 Q1 19 2018 2019 ▪ Organic growth up 5.8% ▪ Price and produ
Slide 6: Vision and Strategy
Vision Seamless access and a safer world Allegion creates value by securing people and assets with Strategy seamless access wherever they reside, work and thrive Deliver Expand New in Core Value in Markets Access Be the Capital Partner of Allocation Choice Enterprise Excellence 6 | First-Quarter 201
Slide 7: Allegion Revenue Results
First-Quarter 2019 Allegion Revenue Results Q1'19 Q1'19 Q1-19 Reported Organic 1 Growth Growth Price 2.1% Americas 8.2% 7.6% Volume 3.7% EMEIA -4.9% 1.7% Organic 5.8% Asia-Pacific 55.3% -2.2% Acquisitions 3.3% Currency -2.3% Total 6.8% Total Allegion 6.8% 5.8% Strong organic growth 7 | First-Quarter
Slide 8: Allegion Results
First-Quarter 2019 Allegion Results 1 1 Revenue Adjusted Operating Income ($millions) ($millions) Q1 Revenue Performance Q1 Adjusted Operating Margin +10bps ▪ Price and productivity exceeded significant ▪ Organic growth +5.8% inflation ▪ Solid volume mainly driven by non-residential ▪ Solid volume l
Slide 9: Allegion EPS Performance
First-Quarter 2019 Allegion EPS Performance Q1 9 | First-Quarter 2019 Results See press release for non-GAAP reconciliations
Slide 10: Americas Results
First-Quarter 2019 Americas Results 1 Revenue 1 Adjusted Operating Income ($millions) ($millions) Q1 Revenue Performance Q1 Adjusted Operating Margin +10 bps ▪ Organic growth +7.6% ▪ Price and productivity exceeded significant inflation ▪ Year-over-year growth in electronics of nearly 10% ▪ Solid vo
Slide 11: EMEIA Results
First-Quarter 2019 EMEIA Results 1 1 Revenue Adjusted Operating Income ($millions) ($millions) Q1 Revenue Performance Q1 Adjusted Operating Margin +220 bps ▪ Organic growth +1.7% ▪ Price and productivity exceeded moderate inflation ▪ Price and slightly favorable volume driven by ▪ Volume leverage an
Slide 12: Asia-Pacific Results
First-Quarter 2019 Asia-Pacific Results 1 1 Revenue Adjusted Operating Income ($millions) ($millions) Q1 Revenue Performance Q1 Adjusted Operating Margin +230 bps ▪ Organic revenue declined -2.2% ▪ Price and productivity slightly exceeded inflation ▪ Organic decline driven by $1.5 million internal t
Slide 13: Allegion ACF
First-Quarter 2019 Allegion ACF Available Cash Flow (ACF)¹ ($millions) Decrease in ACF driven by higher working capital and increased capex; partially offset by increased net earnings Working Capital² & Cash Conversion Cycle (CCC)³ Affirming full-year ACF outlook range of $430-$450 million 1 Net cas
Slide 14: Full-Year 2019 Outlook
Full-Year 2019 Outlook Revenue EPS FY Outlook FY Outlook Prior FY Outlook Total Americas 5% to 6% 2019 Reported EPS $4.60 to $4.75 $4.60 to $4.75 Organic Americas 5% to 6% Adjustments¹ ~$0.15 ~$0.15 Total EMEIA Flat to 2% Organic EMEIA 2.5% to 4.5% 2019 Adjusted EPS $4.75 to $4.90 $4.75 to $4.90 Tot
Slide 15: Summary
Summary ▪ Q1 revenue growth 6.8% versus prior year; organic revenue growth 5.8% ▪ Q1 2019 adjusted operating margins +10 bps ▪ Adjusted Q1 EPS of $0.88 (+10.0%) ▪ Affirming full-year revenue outlook – total and organic growth of 5% to 6% ▪ Affirming full-year EPS outlook ▪ Reported EPS $4.60 to $4.7
Slide 16: ALLEGION
| i. ALLEGION
Slide 17: About Allegion
About Allegion™ Allegion is a global pioneer in seamless access, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schoo