Americold Realty Trust, Inc. · NYSE:COLD
Americold Realty Trust — Investor Presentation (2022)
27 slides from Americold Realty Trust's investor presentation, 2022
Slide 1: Investor Presentation Fall 2022
Investor Presentation Fall 2022
Slide 2: Disclaimer
Disclaimer 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
Slide 3: Key Investment Highlights
Key Investment Highlights Global Market Leader Focused on Temperature-Controlled Warehouses Integrated Network of Strategically-Located, High-Quality, “Mission-Critical” Warehouses Infrastructure Supported by Best-in-Class IT and Operating Platforms Provides a Significant Competitive Advantage Stron
Slide 4: Company Snapshot
Company Snapshot World’s largest publicly traded REIT focused on the ownership, operation, development and acquisition of temperature-controlled warehouses Portfolio Overview Warehouses Ownership Total Average Geographic Estimate of N.A. Number of Number of Type Capacity Facility Size Operations Mar
Slide 5: Largest Fully Integrated Network of Temperature-Controlled Warehouses
Largest Fully Integrated Network of Temperature-Controlled Warehouses An indispensable component of food infrastructure from “farm to fork" Restaurant Government Hotel Food Service Farm School Sports Hospital Distribution Center Fork Supermarket Production Advantaged Distribution Warehouse Center /
Slide 6: Integrated Operations Overview
Integrated Operations Overview Real estate value is driven by the critical nature of our infrastructure, strategic locations and integrated, full-service strategy Segment Overview Select Customers % of Contribution (1) Mission-critical, temperature-controlled real estate infrastructure generates r
Slide 7: Strategically Located, Mission-Critical Temperature-Controlled Warehouses
Strategically Located, “Mission-Critical” Temperature-Controlled Warehouses Strategic locations and extensive geographic presence provide an integrated warehouse network that is fundamental to customers’ ability to optimize their distribution networks North America Europe Asia-Pacific South America
Slide 8: A Global Market Leader in Temperature-Controlled Warehousing
A Global Market Leader in Temperature-Controlled Warehousing Our position as a global market leader allows us to realize economies of scale, reduce operating costs and lower our overall cost of capital. Ideally positioned to compete for customers and external growth opportunities North American Mark
Slide 9: Highly Diversified Business Model Produces Stable Cash Flows
Highly Diversified Business Model Produces Stable Cash Flows Diversification helps reduce revenue volatility associated with seasonality and changing commodity trends Pro Forma Commodity Pro Forma Global Geographic Diversity (1) Global Warehouse U.S. Warehouse Other South Potatoes Pork America South
Slide 10: Long-Standing Relationships with Top Customers
Long-Standing Relationships with Top 25 Customers Scope and scale of network coupled with long-standing relationships position us to grow market share organically and through acquisitions Representative Food Producers / CPG Companies (1) Top 25 Customers Have been with Americold for an average of ~3
Slide 11: Economic Occupancy
Economic Occupancy Americold’s commercialization practices support our customers and improve our quality of earnings Economic Occupancy Network Average Economic & Physical Occupancy Trend Significantly increased fixed commitment contracts in our portfolio 1Q 2Q 3Q 4Q Annual Economic occupancy re
Slide 12: Growing Committed Revenue in Warehouse Portfolio
Growing Committed Revenue in Warehouse Portfolio Significant improvement transitioning from as-utilized, on demand contracts to fixed storage committed contracts and leases Fixed storage committed contracts and leases currently Total Warehouse Rent & Storage Revenue represent: $884 $907 $919 $936
Slide 13: Warehouse Financial Summary
Warehouse Financial Summary Warehouse Revenue ($mm) 2017A – LTM 6/30/22 CAGR $2,202 Constant $2,085 Actual $ Currency (1) $1,549 $1,377 $1,271 Warehouse $1,177 $1,209 16.3% 17.1% $1,146 Services $883 $795 $644 $662 Rent & $876 $931 14.7% 15.8% $583 $666 Storage $502 $515 2017A 2018A 2019A 2020A 2021
Slide 14: Substantially All Warehouse NOI Driven by Rental & Storage Revenue
Substantially All Warehouse NOI Driven by Rental & Storage Revenue + = Rent & Storage Warehouse Services Total Warehouse Commentary Revenues $0.42 $0.58 $1.00 REIT: Rent & Storage TRS: Warehouse Services Power ($0.06) – ($0.06) Power and utilities Other Real Estate Related Costs: facility Facility (
Slide 15: Disciplined Growth Strategy
Disciplined Growth Strategy 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 Proactive Asset Management “Same Store” Warehouse 1 9 Ra
Slide 16: Organic Growth Initiatives Have Driven Stable Same Store Performance
Organic Growth Initiatives Have Driven Stable Same Store Performance Historical same store performance is the culmination of active asset management, our integrated network and market position and the replacement of legacy customer agreements with new contracts implementing our Commercial Business R
Slide 17: Historic Same Store Seasonality Trend
Historic Same Store Seasonality Trend Prior to COVID-19, same store metrics show consistent seasonal trends (1) Key Quarterly Drivers Quarterly Same Store Revenue (% of Annual) First / Second Quarter Surge in 1Q 2020 due to COVID 25% 25% 25% 25% 26% 26% 26% 26% 24% 24% 25% 24% 24% 24% 24% 25% Ti
Slide 18: Expansion and Development Overview
Expansion and Development Overview Expansion and Development Opportunities (1) Rochelle, IL Auckland, NZ Total Estimated Cost ⁽²⁾ Total Estimated Stabilized NOI (3) Recently Completed / Columbus, OH Lurgan, N. Ireland ~$416mm ~$42mm Ramping to Savannah, GA Calgary, Canada Highlighted Projects Comple
Slide 19: Development of Two Automated Facilities for Ahold Delhaize
Development of Two Automated Facilities for Ahold Delhaize The Ahold Delhaize highly automated development is an opportunity for Americold to continue to grow in the retail sector Development Overview Ahold Delhaize Dedicated Facility COLD is building two automated, retail fulfillment centers for
Slide 20: 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 Expansion Overview COLD is expanding its Russellville, Arkansas facility for a total of ~$92mm in a de
Slide 21: Well-Laddered Balance Sheet with Significant Liquidity
Well-Laddered Balance Sheet with Significant Liquidity As of 6/30/2022 Pro Forma Real Estate Debt Maturity Total Debt Profile % of Debt Maturing Investment grade ratings: BBB (Fitch / DBRS Morningstar), Baa3 (Moody’s) – – – – 7% 26% 16% 14% 12% 14% – 12% Revolver Balance ⁽¹⁾ Debt Type Rate Type De
Slide 22: Strategic Investment Approach to Maintain a High-Quality Portfolio
Strategic Investment Approach to Maintain a High-Quality Portfolio Maintenance and capital expenditures ensure that our temperature-controlled warehouses meet the “mission-critical” role they serve in the cold chain As a % of Total Warehouse NOI before R&M Expense 2018A 2019A 2020A 2021A Total Spend
Slide 23: Commitment to Environmental, Social and Governance Initiatives
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, Silver or Bronze certifications at 203 facilities Completed LED lighting con
Slide 24: Commitment to Environmental, Social and Governance Initiatives
Commitment to Environmental, Social and Governance Initiatives Environmental by the Numbers 34.2 MEGAWATT 203 TOTAL SITES OVER 18.8M kWh HOURS (MWh) Certified by the GCCA Energy Saved at Americold owned and Shed by 59 sites participating in Excellence Recognition Program: Operated facilities versus
Slide 25: Conclusion
Conclusion Global Market Leader Focused on Temperature-Controlled Warehouses Integrated Network of Strategically-Located, High-Quality, “Mission-Critical” Warehouses Infrastructure Supported by Best-in-Class IT and Operating Platforms Provides a Significant Competitive Advantage Strong and Stable Fo
Slide 26: Appendix
Appendix
Slide 27: Current Production Constraints in Context
Current Production Constraints in Context Cold storage commodity stock levels have consistently snapped back after any period of disruption USDA Cold Storage Warehouse Commodity Stock Levels – End of Quarter Stock as a % of Prior Year (1) Severe drought impacting Mad Cow Energy prices and demand agr
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