Slide 1: Second Quarter 2011 Financial Results Conference Call
Second Quarter 2011 Financial Results Conference Call July 28, 2011
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains “forward-looking statements”. In some cases, you can identify these statements by forward-looking words such as “believe”, “intend”, “anticipate”, “estimate”, “project”, “forecast”, “plan”, “potential”, “may”, “should”, “could” and “expect” and si
Slide 3: Recent Transactions
Recent Transactions On July 14, 2011, agreed to purchase the 2003-built, 5,060 TEU MSC Linzie (to be renamed MSC Secondhand Romanos) Acquisitions Chartered it back to MSC for a period of 63 months at a net daily rate of $28,000 Fixed recently acquired secondhand vessels at favorable rates o Fi
Slide 4: Straight Forward Investment Strategy and Progressive Dividend Policy
Straight Forward Investment Strategy and Progressive Dividend Policy After executing transactions of $1.1Bn since our initial public offering, management to recommend to the Board of Directors the first dividend increase of 8%, beginning with the third quarter 2011 dividend Progressive Dividend Poli
Slide 5: Significant Built-in growth
Significant Built-in growth Newbuilds Revenue ($MM) Contribution (1) Newbuilds EBITDA ($MM) Contribution (2)(3) 152 125 87 71 3 2 505 356 353 231 2010 Revenues 2012 2013 2014 (Fully Proforma 2010 2010 EBITDA 2012 2013 2014 (Fully Proforma 2010 Delivered) Fully Delivered Delivered) Fully Delivered Fl
Slide 6: Income Statement
Income Statement Q2 2011 RESULTS 2Q 2010 2Q 2011 % Change Ownership Days 3,893 4,432 13.8% Average Number of Vessels 42.8 48.7 13.8% Voyage Revenues $ 89,800 $ 94,318 5.0% EBITDA(*) $ 56,915 $ 65,115 14.4% D&A $(19,675) $(21,700) 10.3% Net Interest and Finance Costs $(16,287) $(17,244) 5.9% Net Inco
Slide 7: Container Shipping Industry Supply / Demand Dynamics
Container Shipping Industry Supply / Demand Dynamics Global Fleet Near Full Capacity Year-Over-Year Growth (%) Time Charter Index TEU Idle %of feet 20.00% 200 1,600,000 14.0% 180 1,400,000 15.00% 12.0% 160 1,200,000 10.0% 10.00% 140 1,000,000 8.0% 120 800,000 5.00% 100 6.0% 600,000 0.00% 1997 1998 1
Slide 8: Company Highlights
Company Highlights Large, established company with a substantial fleet on the water Proven track record both pre and post-IPO • Long track record of growth and value creation • Focus on high-return investments A company uniquely positioned to grow • Low Leverage • Re-chartering upside • Well positio
Slide 9: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 10: Appendix: Net Income to EBITDA and Adjusted EBITDA Reconciliation
Appendix Net Income to EBITDA and Adjusted EBITDA Reconciliation Three-month period ended June 30, (Expressed in thousands of U.S.dollars) Year Ended (Expressed in thousands of U.S.dollars) December 31,2010 2010 2011 Net Income $ 81,224 Net Income $ 20,953 $ 26,171 Interest and finance costs 71,949
Slide 11: Appendix: Assumptions for 2012–2014 Projected Newbuild Revenues and EBITDA
Appendix Assumptions for 2012 – 2014 Projected Newbuild Revenues and EBITDA 2 newbuild vessels delivered in 2012, 7 newbuild vessels delivered in 2013; 1 newbuild vessel delivered in 2014 Delivery dates per current shipyard schedules Utilization of 364 days per year Operating expenses per cu