Slide 1: Fourth Quarter 2014 Financial Results Conference Call
Fourth Quarter 2014 Financial Results Conference Call February 5, 2015
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: Recent Transactions
Recent Transactions The management of the Company announced that it will recommend to the Board of Directors Dividend that the Board approve a dividend increase, beginning with the first quarter 2015 dividend, raising Increase the quarterly dividend from $0.28 to $0.29 per common share (1). In D
Slide 4: Income Statement
Income Statement Q4 2014 RESULTS 4Q 2013 4Q 2014 % Change Ownership Days 4,746 4,982 5.0% Average Number of Vessels 51.6 54.2 5.0% Voyage Revenues $ 112,549 $ 120,866 7.4% EBITDA(*) $ 71,116 $80,913 13.8% Depreciation & Amortization $ 26,749 $ 30,436 13.8% Net Interest and Finance Costs $ 17,515 $ 1
Slide 5: High Quality Stable Cash Flows - Strong Relationships
High Quality Stable Cash Flows- Strong Relationships Revenue Contribution (All Vessels)(1)(2) As of February 4, 2015, Other 0.1% contracted revenues of 0.4% approximately $2.3Bn(1)(2) 2.3% 8.9% TEU-weighted average remaining time charter duration 36.7% for the fleet is about 4.5 19.0% years(1)(2
Slide 6: Small Re-chartering Risk going forward
Small Re-chartering Risk going forward EBITDA 2015 EBITDA Sensitivity Based on Re-Chartering Discount Sensitivity 100% 0,7% 1,5% 2,2% 3,0% 3,7% 90% 80% Contracted 70% EBITDA for the next twelve 60% months(*), including 50% EBITDA from 100% re- chartering at 40% existing contracted 30% rates 20% 10%
Slide 7: Balance Sheet Management
Balance Sheet Management Debt Repayment Schedule as of Dec. 31, 2014 (US$ thousands)(1) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 $206,459 $199,793 $242,812 $574,633 $78,300 $248,544 $87,464 $22,117 $23,730 $83,222 Smooth amortization schedule minimizes re-financing risk Distributable ca
Slide 8: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet 570 5,0% 560 4,5% 550 4,0% 540 3,5% 3,0% 530 2,5% 520 2,0% 510 1.1% 1,5% 500 Source: AXS-Alphaliner Source: Howe Robinson 1,0% 490 0,5% 480 0,0% Orderbook Box Rates Orderbook/ Total Fleet CCFI 70,0% 1.200 60,0% 1.
Slide 9: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 10: Net Income to Adjusted Net Income and Adjusted EPS Reconciliation
Appendix Net Income to Adjusted Net Income and Adjusted EPS Reconciliation Three-month period ended Year ended December 31, December 31, (Expressed in thousands of U.S. dollars, 2013 2014 2013 2014 except share and per share data) Net Income $ 103,087 $ 115,087 $ 26,852 $ 30,800 Earnings allocated t
Slide 11: Net Income to EBITDA and Adjusted EBITDA Reconciliation
Appendix Net Income to EBITDA and Adjusted EBITDA Reconciliation Three-month period ended Year ended December 31, December 31, (Expressed in thousands of U.S. dollars) 2013 2014 2013 2014 Net Income $ 103,087 $ 115,087 $ 26,852 $ 30,800 Interest and finance costs 74,533 95,562 17,610 19,961 Interest