Americold Realty Trust, Inc. · NYSE:COLD
Americold Realty Trust — Investor Presentation (March 2021)
25 slides from Americold Realty Trust's investor presentation, Mar 3, 2021
Slide 1: Investor Presentation Spring 2021
INVESTOR PRESENTATION Spring 2021
Slide 2: Forward-Looking Statements
This presentation contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future financial and operating performance and growth plans, taking into account the informa
Slide 3: Key Investment Highlights
Key Investment Highlights Global Market Leader with Integrated Network of Strategically-Located, High-Quality, “Mission- Critical” Warehouses Important First Mover Advantage as the Only Publicly Traded REIT Focused on Temperature- Controlled Warehouses Infrastructure Supported by Best-in-Class IT an
Slide 4: Company Snapshot
94% 2% 3% Warehouse Third-Party Managed Transportation 78% 15% 7% Warehouse Third-Party Managed Transportation Company Snapshot Note: Figures as of December 31, 2020, unless otherwise indicated. (1) Includes 14 ground leased assets (2) 2020 IARW North American Top 25 List (June 2020), per GCCA websi
Slide 5: Largest Fully Integrated Network of Temperature-Controlled Warehouses
Largest Fully Integrated Network of Temperature-Controlled Warehouses Food Producers Americold Realty Trust Food Distribution + Retailers Gouldsboro Distribution Center Gouldsboro, PA Production Advantaged Warehouse Delhi, LA e-Commerce Fulfillment Supermarket Public Warehouse LaPorte, TX Distributi
Slide 6: Integrated Operations Overview
Transportation Warehouse Third-Party Managed Warehouse NOI Third-Party Managed Transportation Integrated Operations Overview Note: Figures exclude Agro Merchants Group portfolio. (1) LTM figures as of December 31, 2020 and excludes the quarry business segment T h ir d -P a rt y M a n a g e d W a re
Slide 7: Strategically Located, Mission-Critical Temperature-Controlled Warehouses
Public Production Advantaged Facility Leased Third-Party Managed Distribution Strategically Located, “Mission-Critical” Temperature-Controlled Warehouses Note: Americold portfolio figures as of December 31, 2020. Figures do not include Americold’s Brazilian JV investments in SuperFrio and Comfrio So
Slide 8: A Global Market Leader in Temperature-Controlled Warehousing
A Global Market Leader in Temperature-Controlled Warehousing Note: Americold portfolio figures provided by the Company as of December 31, 2020. Figures may not sum due to rounding (1) 2020 IARW North American Top 25 List (June 2020), per GCCA website. U.S. only. Total capacity from 2020 GCCA Global
Slide 9: Highly Diversified Business Model Produces Stable Cash Flows
48% 28% 23% 1% Distribution Production Advantaged Public Warehouse Facility Leased 52% 23% 24% 1% Distribution Production Advantaged Public Warehouse Facility Leased Highly Diversified Business Model Produces Stable Cash Flows Note: Figures may not sum due to rounding. (1) December 31, 2020 LTM Reve
Slide 10: Long Standing Relationships with Top Customers
Long Standing Relationships with Top 25 Customers Note: Excludes properties acquired from Agro Merchants Group. (1) Not all customers shown are in COLD’s top 25 largest customers in the warehouse segment (2) Represents long-term issuer ratings as of 4Q20 (3) Based on LTM warehouse revenues as of Dec
Slide 11: Economic Occupancy Driving Improved Returns
75% 78% 76% 75% 76% 74% 76% 74% 73% 71% 77% 77% 77% 75% 70% 81% 82% 81% 80% 72% 76% 78% 77% 76% 72% 80% 79% 81% 77% 77% 78% 81% 79% 77% 84% 83% 79% 80% 80% 79% '16 '17 '18 '19 '20 16 '17 '18 '19 '20 '16 17 '18 '19 '20 '16 '17 18 '19 '20 '16 '17 '18 19 '20 Network Average Economic & Physical Occupanc
Slide 12: Growing Committed Revenue in Warehouse Portfolio
45% 49% 45% 45% 46% 45% 45% 47% 46% 55% 51% 55% 55% 54% 55% 55% 53% 54% $1.17bn $1.18bn $1.43bn $1.44bn $1.47bn $1.51bn $1.52bn $1.54bn $1.64bn 4Q18 1Q19 2Q19 ⁽⁴⁾ 3Q19 ⁽⁴⁾ 4Q19 ⁽⁴⁾ 1Q20 ⁽⁴⁾ 2Q20 ⁽⁴⁾ 3Q20 ⁽⁴⁾ 4Q20 ⁽⁴⁾ 43% 43% 38% 40% 41% 40% 41% 42% 41% 57% 57% 62% 60% 59% 60% 59% 58% 59% $0.51bn $0.
Slide 13: Warehouse Financial Summary
$294 $303 $324 $338 $387 $438 $14 $11 $24 $37 $61 $82 $308 $314 $348 $375 $448 $520 2015A 2016A 2017A 2018A 2019A 2020A Rent & Storage Warehouse Services $469 $477 $502 $515 $583 $666 $588 $604 $644 $662 $795 $883 $1,057 $1,081 $1,146 $1,177 $1,377 $1,549 2015A 2016A 2017A 2018A 2019A 2020A Rent & S
Slide 14: Substantially All Warehouse NOI Driven by Rental & Storage Revenue
Substantially All Warehouse NOI Driven by Rental & Storage Revenue Note: Based on LTM warehouse segment as of December 31, 2020. Future results may vary. Figures may not sum due to rounding (1) Material Handling Equipment (2) OS&D and D&D refer to Over Short & Damaged and Detentioned & Demurrage, re
Slide 15: Positioned for Multiple Avenues of Growth
Positioned for Multiple Avenues of Growth Global warehouse network, operating systems, scalable information technology platform and economies of scale provide a significant advantage over competitors with respect to organic and external growth opportunities External Growth and Expansion Opportunitie
Slide 16: Organic Growth Initiatives Have Driven Same Store Growth
63.0% 64.5% 65.5% 66.2% 67.0% 66.8% 2.5% 2.0% 4.0% 5.8% 6.9% 9.3% 29.5% 29.8% 30.9% 32.1% 32.6% 34.1% 2015 2016 2017 2018 2019 2020 6.1% 2.9% 9.5% 7.4% 5.1% 5.6% 2015 2016 2017 2018 2019 2020 59% 38% 3% 135 88 6 229 4.9% 4.1% 5.8% 3.9% 3.5% 2.3% 2015 2016 2017 2018 2019 2020 Organic Growth Initiativ
Slide 17: Historic Same Store Seasonality Trend
Historic Same Store Seasonality Trend Quarterly Same Store Revenue (% of Annual) Quarterly Same Store NOI (% of Annual) 24% 24% 25% 26% 24% 24% 25% 26% 25% 24% 25% 26% Q1 Q2 Q3 Q4 2018 Revenue 2019 Revenue 2020 Revenue 24% 24% 25% 27% 23% 25% 24% 28% 24% 23% 25% 28% Q1 Q2 Q3 Q4 2018 NOI 2019 NOI 202
Slide 18: Growth Strategy – Expansion and Development
Growth Strategy – Expansion and Development (1) As of December 31, 2020; no assurance can be given that the actual cost or completion dates of any expansions or developments will not exceed our estimate (2) Reflects management’s estimate of cost of completion as of December 31, 2020 (3) These future
Slide 19: Acquisition of Agro Merchants Group
Acquisition of Agro Merchants Group The acquisition of Agro provides Americold with a strategic presence throughout Europe and complementary operations in other global geographies In December 2020, COLD completed the acquisition of Agro Merchants Group for ~$1.7bn at an in-place net entry NOI yiel
Slide 20: Acquisition of Hall's Warehouse
Acquisition of Hall’s Warehouse The acquisition of Hall’s strengthens Americold’s presence in the Northeastern U.S. In November 2020, COLD closed on the acquisition Hall’s Warehouse for ~$480mm at an in-place net entry NOI yield of ~6.3% Leading integrated platform provides temperature controlle
Slide 21: Russellville, AR Expansion for Conagra Brands
Russellville, AR Expansion for Conagra Brands The Russellville highly automated expansion is an opportunity to provide mission critical, long-term infrastructure for a top tier strategic customer COLD is expanding its Russellville, Arkansas facility for a total of ~$84mm in a dedicated build for C
Slide 22: Flexible Balance Sheet Positioned for Growth
$428 $489 $350 $400 $200 $196 $125 $1,000 $277 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2013 Mortgage Loans Undrawn Revolver Unsecured Term Loan A-1 Unsecured Term Loan A-2 (CAD Denominated) Series A 4.68% Unsecured Notes Series B 4.86% Unsecured Notes Series C 4.10% Unsecure
Slide 23: Strategic Investment Approach to Maintain a High-Quality Portfolio
Strategic Investment Approach to Maintain a High-Quality Portfolio Note: Dollars in millions. Figures may not sum due to rounding (1) Recurring capital expenditures are incurred to extend the life of, and provide future economic benefit from, our existing temperature-controlled warehouse network and
Slide 24: Commitment to Environmental, Social and Governance Initiatives
Commitment to energy excellence and efficiency Recognized under the Global Cold Chain Alliance’s (GCCA) new Energy Excellence Recognition Program with Gold and Silver certifications at 161 facilities Completed LED lighting conversions at 116 facilities since 2011 Noteworthy fast door implement
Slide 25: Conclusion
Conclusion Global Market Leader with Integrated Network of Strategically-Located, High-Quality, “Mission- Critical” Warehouses Important First Mover Advantage as the Only Publicly Traded REIT Focused on Temperature- Controlled Warehouses Infrastructure Supported by Best-in-Class IT and Operating Pla
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