Costamare Inc. · NYSE:CMRE
Costamare — Investor Presentation (June 2022)
14 slides from Costamare's investor presentation, June 2022
Slide 1: June 2022 – Investor Presentation
June 2022 – Investor Presentation
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: Company Snapshot
Company Snapshot Strong support by sponsor family – Long track record of 57% ownership with Within the 3 largest 48+ years $130MN reinvested by them through the DRIP program to date. independent containership(2) owners Uninterrupted dividend payments worldwide since going public – never Contracted R
Slide 4: Group History
Group History After 20 years of sailing experience on merchant Costamare signs a joint 2013 ships, Capt. Vasileios venture agreement with Preferred shares offering Costamare disposes of November 2010, York Capital Konstantakopoulos raising $50mn. remaining bulk carriers and Costamare successfully Ma
Slide 5: Strategy
Strategy Staggered Strong base of charter Expansion into Strong and contracted cash Prudent debt maturities for dry bulk at an uninterrupted flows at $3.3 amortization containership opportune time sponsor support Bn(1) fleet from strong counterparties to mitigate rechartering risk, at a pace faster
Slide 6: Profitable Performance Throughout the Business Cycles
Profitable Performance Throughout the Business Cycles 1,200 500 450 1,000 400 350 800 Index Value 300 $MN 600 250 200 400 150 100 200 50 0 0 2015 2016 2017 2018 2019 2020 2021 2022 (ann.)(1) (2) (3) Notes Containership Time Charter Rate Index Revenue Adjusted Net Income 1. Based on annualized Q1 202
Slide 7: Financial Performance
Financial Performance Q1 2022 was our best Q1 since listing on the NYSE ► Q1 2022 Net Income available to common stockholders of $115.4 million vs $60.5 million in Q1 2021. ► Earnings per Share of $0.93 vs $0.49 in Q1 2021, up 90%. ► Q1 2022 Adjusted Net Income available to common stockholders(1) of
Slide 8: Sale and Purchase Highlights 2021-2022
Sale and Purchase Highlights 2021-2022 Fleet renewal and diversification program ► Acquisitions: 17 containerships with a combined capacity of 134,917 TEUs and a TEU weighted average age of 9 years (1). ► Took delivery of two 12,690 TEU newbuilding containerships in early 2021. ► Purchased 15 contai
Slide 9: Highlights
Highlights We have taken the initiative to forward fix our containerships at highly attractive levels ► Total contracted revenues of $3.3 billion with a weighted average duration of 4.1 years(1). ► Selected recent forward fixtures are 80% higher than current rates with an aggregate contracted revenu
Slide 10: Conservative Capital Structure
Conservative Capital Structure ► We maintain low leverage and liquidity of $644 million for future growth. LIQUIDITY (1) AND LEVERAGE RATIO (2) 700 60.0% Cash and cash equivalents Credit lines Leverage 53.8% 51.0% 600 46.0% 50.0% 45.3% 500 41.0% 39.0% 43.0% 37.0% 40.0% 39.0% (in USD millions) 400 31
Slide 11: Container Market Environment
Container Market Environment Charter Rates 12m Timecharter Rates ► Charter rates continue to remain at historically high levels. 200,000 ► Rates for vessels above 2,500 TEU have continued to 150,000 increase year to date. 100,000 50,000 0 May-20 May-21 May-22 Nov-19 Nov-20 Nov-21 Sep-20 Sep-21 May-1
Slide 12: Dry Bulk Market Environment
Dry Bulk Market Environment Average Spot Earnings (USD/p.d.) 80,000 ► Earnings for Panamaxes, Supramaxes and Handysize vessels were up on average by 20% year over year in May. 60,000 40,000 32,582 30,000 20,000 26,926 0 Nov-14 Nov-17 May-11 May-12 May-13 May-21 Nov-08 Nov-18 Nov-20 Nov-05 Nov-06 Nov
Slide 13: Thank You!
Thank You! 13
Slide 14: Appendix Ι – Net Income to Adj. Net Income Reconciliation
Appendix Ι – Net Income to Adj. Net Income Reconciliation Three-month period ended March Adjusted Net Income available to common stockholders and Adjusted Earnings per Share represent Net Income after Expressed in thousands of U.S. dollars, 31, earnings allocated to preferred stock and gain on retir