Slide 1: Fourth Quarter 2016 Financial Results Conference Call
Fourth Quarter 2016 Financial Results Conference Call January 27, 2017
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 – Charterings
Recent Transactions – Charterings The Company entered into the following chartering arrangements: Agreed to extend the charter of the 2000-built, 4,890 TEU containerships Oakland Express, Singapore Express and Halifax Express with Hapag- Lloyd at a daily rate of $5,500 starting from December 1, 20
Slide 4: Recent Transactions – Vessel Sales and Refinancing of Existing Facilities
Recent Transactions – Vessel Sales and Refinancing of Existing Facilities In January 2017, we agreed to sell the 2003-built 5,050 TEU containership Romanos for a gross price of approximately $6.6 million. Vessel Sale In December 2016, we finalized the refinancing of a credit facility secured wit
Slide 5: Recent Transactions – Follow on Common Equity Offering & Dividend Declarations
Recent Transactions – Follow on Common Equity Offering & Dividend Declarations On November 29, 2016, the Company completed a follow-on public offering of 12.0 million shares of its common stock at $6.00 per share, upsized from 11.0 million shares initially offered. The gross proceeds from the of
Slide 6: Q4 2016 Income Statement Snapshot
Q4 2016 Income Statement Snapshot Q4 2016 RESULTS 4Q 2015 4Q 2016 % Change Ownership Days 5,023 4,876 (2.93%) Average Number of Vessels 54.6 53 (2.93%) Voyage Revenues $122,276 $110,134 (9.93%) Net Interest and Finance Costs 18,219 17,228 (5.44%) (*) Adjusted Net Income Available to Common Stockhold
Slide 7: High Quality & Stable Cash Flows
High Quality & Stable Cash Flows Revenue Contribution (All Vessels)(1)(2) Other As of January 26, 2017, contracted 3.2% 0.3% 0.3% revenues of approximately $1.5Bn(1)(2) 4.9% TEU-weighted average remaining 39.1% time charter duration for the fleet is 13.3% about 3.2 years(1)(2) 39.0% Notes 1. Bas
Slide 8: Consistently Strong Performance
Consistently Strong Performance Historical Financial Performance vs. Containership Time Charter Rate Index (1) $MM Index Value 600 140 120 500 100 400 80 300 60 200 40 100 20 0 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Adj. Net Income Margin 32.1% 27.6% 20.3% 20.9% 29.5% 23.7% 26.3% 25.0%
Slide 9: Smoothened Debt Repayment Profile
Smoothened Debt Repayment Profile Debt Repayment Profile Debt Repayment Profile Before New Financings & Refinancings After New Financings & Refinancings $MM $MM 600 567.4 600 500 500 400 400 433.0 300 300 240.8 246.5 199.8 206.1 213.0 42.0 – 41.8 200 – 200 – 100 100 198.8 134.4 206.1 213.0 204.8 0 0
Slide 10: Remaining Capex Commitments
Remaining Capex Commitments Remaining Capex Commitments (CMRE portion of yard instalments)(1) $MM 30 24.1 The $21.6 million relates to the last 25 11,000 TEU vessel as the rest have committed debt financing 20 15 21.6 10 21.6 7-year charter contracts with Hamburg Sued. Have secured pre- 5 delivery f
Slide 11: Re-chartering Revenue Sensitivity for 2017
Re-chartering Revenue Sensitivity for 2017 2017 Revenue Sensitivity Based on Re-Chartering Discount (1) Revenue Sensitivity 100% 0.5% 0.9% 1.4% 1.8% 2.3% 2.7% 3.2% 3.6% 90% 80% 70% Contracted revenues 60% for 2017(*), including revenues 50% from re- chartering 40% at existing contracted 30% rates 20
Slide 12: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet 900 14% 800 12% 10% 700 8% 600 6% 500 4% 400 2% 300 0% Source: Howe Robinson as of January 18, 2017 Source: AXS-Alphaliner as of January 18, 2017 Orderbook Box Rates Orderbook/ Total Fleet (%) CCFI & 70 SCFI Indic
Slide 13: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 14: Appendix - I
Appendix - I Net Income to Adj. Net Income Available to Common Stockholders and Adj. EPS Reconciliation Three-month period ended December 31, (Expressed in thousands of U.S. dollars, except share and Note: Adjusted Net Income available to common stockholders and Adjusted 2015 2016 Earnings per Share