Costamare Inc. · NYSE:CMRE
Costamare — Q1 2018 Earnings Presentation
11 slides from Costamare's earnings presentation, May 2, 2018
Slide 1: First Quarter 2018 Financial Results Conference Call
First Quarter 2018 Financial Results Conference Call May 2, 2018
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain “forward-looking statements” (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). All statements, other than statements of historical facts, that address activities, events or developments that the
Slide 3: Q1 Highlights
Q1 Highlights Performance Adjusted EPS of $0.12. Fleet No vessels laid up. Fleet utilization of 99.8%(1). 16 vessels in new or extended time charters. Growth Acquisition of two 2008-built 1,300 TEU sister containerships. Delivery of c/v Polar Brasil (3,800 TEU), time chartered to Maersk fo
Slide 4: Q1 2018 New Chartering Agreements
Q1 2018 New Chartering Agreements No ships laid up including all vessels acquired under our JV with York Capital. Larger ships have captured most of the upswing. # Vessel Built TEUs Previous Fixture Previous Term Latest Fixture Latest Term Charter Rate Move 1 Navarino 2010 8,531 $9,000 12 to 18
Slide 5: Recent Transactions – New Financing Transactions / Dividend Declarations
Recent Transactions –New Financing Transactions/ Dividend Declarations In March 2018, we refinanced the outstanding loan amount of $299.8m under our original 2008 $1.0bn credit facility with a leading European financial institution. The new facility matures in June 2021 and has a balloon payment a
Slide 6: Q1 2018 Income Statement Snapshot
Q1 2018 Income Statement Snapshot Q1 2018 RESULTS 1Q 2017 1Q 2018 % Change Ownership Days 4,678 4,770 2.0% Average Number of Vessels 52.0 53.0 1.9% Voyage Revenues $105,524 $92,754 (12.1%) Net Interest and Finance Costs(*) 17,330 13,588 (21.6%) (**) Adjusted Net Income Available to Common Stockholde
Slide 7: High Quality & Stable Cash Flows
High Quality & Stable Cash Flows Revenue Contribution (All Vessels)(1)(2) As of May 1, 2018, contracted Other 1.2% 1.6% revenues of approximately $1.2Bn(1)(2) 1.2% TEU-weighted average remaining 38.3% time charter duration for the fleet is 17.7% about 2.7 years(1)(2) 39.9% Notes 1. Based on cont
Slide 8: Prudent Balance Sheet Management
Prudent Balance Sheet Management Total Cash and Cash Equivalents as of March 31, 2018 of $252m. Disciplined management of our Balance Sheet, with $0.9 bn of Net Debt as of March 31st. Net Debt to Equity Ratio of 0.65x (as of March 31, 2018). Gross Total Debt(1) decreased from $1.9bn to $1.2b
Slide 9: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet 15% 900 31% increase since 800 31 Dec.17 700 10% 600 1.4% 500 5% 400 300 0% Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 Source: Howe Robinson as of April 25, 2018 Source: AXS-Alphaliner a
Slide 10: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 11: Appendix – I: Net Income to Adjusted Net Income and Adjusted EPS Reconciliation
Appendix – I Net Income to Adj. Net Income Available to Common Stockholders and Adj. EPS Reconciliation Three-month period ended March Note: Adjusted Net Income available to common stockholders and Adjusted 31, Earnings per Share represent Net Income after earnings allocated to preferred (Expressed