Slide 1: Third Quarter 2018 Financial Results Conference Call
Third Quarter 2018 Financial Results Conference Call October 25, 2018
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: Q3 Highlights
Q3 Highlights Performance Adjusted EPS of $0.09(1). Fleet Fleet utilization of 98.6%(2). Installation of scrubbers on five Post Panamax container vessels subject to an increase in the current charter hire and further extension of the original charter tenor for 3 years. 25 vessels in new or e
Slide 4: Q3 2018 New Chartering Agreements (1/2)
Q3 2018 New Chartering Agreements (1/2) # Vessel Built TEUs Latest Fixture Term Following scrubbers installation hire will be December 2026 (incl. 3 years 1 MSC Azov 2014 9,403 increased and original tenor will be extended by 3 extension) years February 2027 (incl. 3 years 2 MSC Ajaccio 2014 9,403 “
Slide 5: Q3 2018 New Chartering Agreements (2/2)
Q3 2018 New Chartering Agreements (2/2) # Vessel Built TEUs Latest Fixture Term 15 Maersk Kawasaki 1997 7,403 $12,100 6 to 9 months 16 Sealand New York 2000 6,648 $11,450 11 to 13 months 17 ZIM New York 2002 4,992 $12,650 1 year 18 ZIM Shanghai 2002 4,992 $12,650 1 year 19 Ulsan 2002 4,132 $10,900 3
Slide 6: Recent Transactions – Vessel Disposals / Dividend Declarations
Recent Transactions –Vessel Disposals/ Dividend Declarations In October 2018, we sold for demolition the 1998-built, 3,842 TEU container vessel MSC Vessels Koroni. disposals In August 2018, we concluded the sale for demolition of the 1998-built, 1,645 TEU container vessel Padma. On October 1,
Slide 7: Q3 2018 Income Statement Snapshot
Q3 2018 Income Statement Snapshot Q3 2018 RESULTS 3Q 2017 3Q 2018 % Change Ownership Days 4,922 5,136 4.3% Average Number of Vessels 53.5 55.8 4.3% Voyage Revenues $101,274 $90,913 (10.2%) Net Interest and Finance Costs (*) 17,209 14,114 (18.0%) (**) Adjusted Net Income Available to Common Stockhold
Slide 8: High Quality & Stable Cash Flows
High Quality & Stable Cash Flows Revenue Contribution (All Vessels)(1)(2) As of October 25, 2018, contracted Other 0.3% 0.8% revenues of approximately 0.9% $2.0Bn(1)(2) 17.5% TEU-weighted average remaining 29.2% time charter duration for the fleet is about 3.9 years(1)(2) 19.4% 32.0% Notes 1. Ba
Slide 9: Prudent Balance Sheet Management
Prudent Balance Sheet Management Total Cash and Cash Equivalents as of September 30, 2018 of $155m. Disciplined management of our Balance Sheet, with $0.9 bn of Net Debt as of September 30th, 2018. Net Debt to Equity Ratio of 0.71x (as of September 30, 2018). Gross Total Debt(1) decreased fr
Slide 10: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet 900 15% 800 2.6% 700 10% 600 500 5% 400 300 0% Source: Howe Robinson as of October 24, 2018 Source: AXS-Alphaliner as of October 15, 2018 Orderbook Box Rates Orderbook/ Total Fleet (%) CCFI Index 1,000 60 950 50 9
Slide 11: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 12: Appendix – I
Appendix – I Net Income to Adj. Net Income Available to Common Stockholders and Adj. EPS Reconciliation Three-month period ended September 30, (Expressed in thousands of U.S. dollars, 2017 2018 Note: Adjusted Net Income available to common stockholders and Adjusted except share and per share data) E