Slide 1: Third Quarter 2013 Financial Results Conference Call
Third Quarter 2013 Financial Results Conference Call October 24, 2013
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 On August 5 and September 2, 2013, the Company took delivery of the 8,827 TEU newbuild containership vessels Valiant and Valence, both built by Sungdong Shipbuilding and Marine Deliveries Engineering in South Korea. Both vessels commenced their long-term time charters with memb
Slide 4: Income Statement
Income Statement Q3 2013 RESULTS 3Q 2012 3Q 2013 % Change Ownership Days 4,337 4,696 8.3% Average Number of Vessels 47.1 51.0 8.3% Voyage Revenues $ 94,886 $ 110,134 16.1% EBITDA(*) $54,045 $69,495 28.6% D&A $ (22,382) $ (25,775) (15.2)% Net Interest and Finance Costs $ (19,146) $ (22,776) (19.0)% N
Slide 5: High Quality Cash Flows- Strong Relationships
High Quality Cash Flows- Strong Relationships Revenue Contribution (Vessels in the water)(1)(2)(3) Top 20 Largest Operated Containership Fleets (4) Other Maersk Line MSC 0.4% CMA CGM 2.4% Evergreen COSCO 5.3% Hapag-Lloyd Hanjin APL 14.7% CSCL 30.7% MOL OOCL NYK Line Hamburg Süd PIL (Pacific Int. Lin
Slide 6: Cash Flow Stability and Built-in Growth
Cash Flow Stability and Built-in Growth Newbuilds EBITDA ($MM) Contribution (4)(5) 400 As of October 23, 2013, 350 119,0 300 contracted revenues of 250 42,1 approximately $2.6Bn(1)(2)(3) 200 372 150 253 100 TEU-weighted average 50 0 remaining time charter durations 2012 Adjusted 2013 Contributio
Slide 7: Small Re-chartering Risk for 2014
Small Re-chartering Risk for 2014 $ Millions EBITDA Sensitivity Based on Re-Chartering Discount 400 4,6 9,2 13,8 18,3 350 22,9 27,5 300 250 Contracted EBITDA including 200 EBITDA from re- 369,3 chartering 150 at existing contracted 100 rates 50 0 0% 10% 20% 30% 40% 50% 60% Re-chartering discount of
Slide 8: Balance Sheet Management
Balance Sheet Management Debt Repayment Schedule as of September 30, 2013 (US$ thousands)(1) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 $ 43,219 $209,541 $211,445 $201,343 $243,343 $579,842 $65,380 $189,090 $72,498 $3,581 Smooth amortization schedule minimizes re-financing risk Distributa
Slide 9: Container Shipping Industry
Container Shipping Industry Supply / Demand Dynamics Idle Fleet Year-Over-Year Growth (%) Time Charter Index TEU Idle %of feet 20% 200 180 1.600.000 14% 15% 1.400.000 12% 160 10% 1.200.000 10% 140 1.000.000 120 8% 5% 800.000 100 6% 600.000 0% 4% 80 400.000 -5% 60 200.000 2% 40 0 0% 16/1/2009 16/3/20
Slide 10: Q&A
Costamare Inc. Q&A
Slide 11: Appendix
Costamare Inc. APPENDIX
Slide 12: 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 September 30, (Expressed in thousands of U.S. dollars, 2012 2013 except share and per share data) Net Income $ 12,517 $ 20,944 Distributed earnings allocated to Preferred Stock - (585) Net Income avai
Slide 13: Net Income to EBITDA and Adjusted EBITDA Reconciliation
Appendix Net Income to EBITDA and Adjusted EBITDA Reconciliation Year ended December 31, Three-month period ended September 30, (Expressed in thousands of U.S. 2011 2012 (Expressed in thousands of U.S. dollars) 2012 2013 dollars) Net Income $ 87,592 $ 81,129 Net Income $ 12,517 $ 20,944 Interest and
Slide 14: Assumptions for 2013 – 2014 Projected Newbuild Revenues and EBITDA
Appendix Assumptions for 2013 – 2014 Projected Newbuild Revenues and EBITDA 8 newbuild vessels delivered in 2013; 2 newbuild vessels delivered in 2014 Delivery dates per current shipyard schedules Utilization of 364 days per year Operating expenses per current estimates Management fees per