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March 27, 2015 10:07 PM ET

Building Products

Company Overview of Allegion Plc

Company Overview

Allegion Public Limited Company manufactures and sells mechanical and electronic security products and solutions worldwide. It provides locks, locksets, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; video analytics; doors and door frames; and other accessories. The company sells its products to end-users in commercial, institutional, and residential facilities, including education, healthcare, government, hospitality, commercial office, and single and multi-family residential markets under the strategic brands, such as Schlage, Von Duprin, LCN, CISA, and Interflex, as well as Stee...

Block D

Iveagh Court

Harcourt Road

Dublin,  1

Ireland

Founded in 2013

8,500 Employees

Phone:

353 1 254 6200

Key Executives for Allegion Plc

Chairman, Chief Executive Officer and President
Age: 56
Total Annual Compensation: $1.7M
Chief Financial Officer and Senior Vice President
Age: 51
Total Annual Compensation: $459.3K
Senior Vice President of Americas Operations and President of The Americas Region
Age: 52
Total Annual Compensation: $606.1K
Senior Vice President - Asia Pacific
Age: 49
Total Annual Compensation: $481.5K
Compensation as of Fiscal Year 2013.

Allegion Plc Key Developments

Allegion Plc Presents at Bank of America Merrill Lynch Global Industrials and EU Autos Conference, Mar-17-2015 02:50 PM

Allegion Plc Presents at Bank of America Merrill Lynch Global Industrials and EU Autos Conference, Mar-17-2015 02:50 PM. Venue: Bank of America Merrill Lynch Financial Centre, London, United Kingdom. Speakers: Patrick S. Shannon, Chief Financial Officer and Senior Vice President.

Allegion plc Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Allegion Plc announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net revenues of $573.5 million compared to $543.7 million a year ago. Operating income was $63 million compared to $91.7 million a year ago. Earnings before income taxes were $39.8 million compared to $82.6 million a year ago. Earnings from continuing operations were $22.4 million or $0.37 per basic and diluted share compared to $10.4 million or $0.12 per basic and diluted share a year ago. Net earnings attributable to company were $35.4 million or $0.37 per basic and diluted share compared to $10.1 million or $0.10 per diluted share a year ago. Adjusted net revenues were $573.5 million compared to $543.7 million a year ago. Adjusted operating income was $106.6 million compared to $97.8 million a year ago. Adjusted earnings before income taxes were $100 million compared to $88.7 million a year ago. Adjusted earnings from continuing operations were $73.7 million compared to $59.2 million a year ago. Adjusted earnings from continuing operations attributable to company were $73.2 million or $0.76 per basic and diluted share compared to $58 million or $0.60 per basic and diluted share a year ago. EBITDA was $66.2 million compared to $101.2 million a year ago. Adjusted EBITDA was $117.7 million compared to $109.3 million a year ago. For the year, the company reported net revenues of $2,118.3 million compared to $2,069.6 million a year ago. Operating income was $326.3 million compared to $240.8 million a year ago. Earnings before income taxes were $267.9 million compared to $223.4 million a year ago. Earnings from continuing operations were $183.7 million or $1.92 per diluted share compared to $48.4 million or $0.37 per basic and diluted share a year ago. Net earnings attributable to company were $175.2 million or $1.80 per diluted share compared to $32.3 million or $0.34 per basic and diluted share a year ago. Net cash from operating activities was $255.9 million compared to $223.9 million a year ago. Capital expenditures were $51.5 million compared to $20.2 million a year ago. Adjusted net revenues were $2,118.3 million compared to $2,069.6 million a year ago. Adjusted operating income was $396 million compared to $368.5 million a year ago. Adjusted earnings before income taxes were $354.2 million compared to $351.1 million a year ago. Adjusted earnings from continuing operations were $252.9 million compared to $216.2 million a year ago. Adjusted earnings from continuing operations attributable to company were $241.8 million or $2.49 per basic and diluted share compared to $209 million or $2.18 per basic and diluted share a year ago. EBITDA was $354.8 million compared to $275.7 million a year ago. Adjusted EBITDA was $440.2 million compared to $414.2 million a year ago. The company expects full-year 2015 organic revenues, which exclude currency and acquisitions, to increase in the range of 3% to 4% compared with 2014. Full-year 2015 reported revenues are forecasted to decline 3% to 4% primarily due to the Venezuelan devaluation and other currency headwinds. Full-year 2015 EPS from continuing operations is expected to be in the range of $2.65 to $2.75 per share, an increase of 12% to 17% versus adjusted 2014 EPS excluding Venezuela. The outlook includes incremental investment of $0.15 to $0.20 per share and assumes a full-year effective tax rate of approximately 22% from continuing operations as well as an average diluted share count for the full-year of approximately 97 million shares. The company is targeting available cash flow of approximately 95% of net earnings from continuing operations.

Allegion Mulls Acquisition

Allegion Plc (NYSE:ALLE) is seeking acquisitions. Dave Petratis, Chairman, President and Chief Executive Officer of Allegion, said in Allegion earnings call, “We remain focused on growing our portfolio through acquisitions. Dave already mentioned the iDevices equity investment made earlier this month. We have additional opportunities that are deep in the pipeline process.”

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 29, 2014
Allegion Plc, United Kingdom Door Business
Merger/Acquisition
April 30, 2014
Fire & Security Hardware Pty Limited
 

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