Costamare Inc. · NYSE:CMRE
Costamare — Investor Presentation (December 2018)
14 slides from Costamare's investor presentation, December 2018
Slide 1: Company Presentation December 2018
Company Presentation December 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: Costamare Snapshot
Costamare Snapshot One of the largest independent owners of containerships / Fleet of 79 vessels (incl. 5 newbuilds). 44 years of experience in shipping and a dedicated containership owner since 1992. YTD total acquisitions and newbuild orders of ca. $900m. Strong track record of uninterrupt
Slide 4: Track Record (1/2)
Track Record (1/2) Profitability Consistently profitable without interruption since Company’s inception and as a public company since 2010. Average Return on Equity(1) (“ROE”) of 12.8% over the last 5 full financial years (2013 - 2017). Risk Management Top quality / creditworthy charterers
Slide 5: Track Record (2/2)
Track Record (2/2) $m Index Value 600 120 500 100 400 80 300 60 200 40 100 20 0 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 LTM Note Adjusted Q3.2018 Revenue Containership Time Charter Rate Index 1. Source: Clarkson, Company filings Net Income (2) Average Return on Equity(1) (“ROE”) of 12.8%
Slide 6: Value Creation 2018 (1/2)
Value Creation 2018 (1/2) Total acquisitions in 2018 worth ca. $900m. Acquisition of 16 vessels with an average age(1) of 4 years. Incremental contracted revenues from the 2018 deals worth ca. $1.1Bn. Estimated Earnings per Share (“EPS”) (2) accretion of $0.27 for 14 of the 16 vessels which
Slide 7: Value Creation 2018 (2/2)
Value Creation 2018 (2/2) # Vessel TEUs Year Built Charter Period (in years) (1) 1 Megalopolis 4,957 2013 7 2 Marathopolis 4,957 2013 7 3 Maersk Kleven 8,044 1996 2.5 4 Maersk Kotka 8,044 1996 2.5 5 Newbuild 1 12,690 2020 10 6 Newbuild 2 12,690 2020 10 7 Newbuild 3 12,690 2020 10 8 Newbuild 4 12,690
Slide 8: Leverage Considerations
Leverage Considerations Net Debt to Total Assets Ratio(1) of 0.38x (as of September 30, 2018). Disciplined management of our Balance Sheet, with $0.9Bn of Net Debt as of September 30, 2018. Prudent debt amortization. Over the last 12 months (ending Q3 2018) debt amortization stands at 2.2x ves
Slide 9: Container Trade is Growing Across all Regions
Container Trade is Growing Across all Regions 5,054 TEU (2018) 14,118 TEU (2018) 4,539 TEU (2015) 10,948 TEU (2015) 8,425 TEU (2018) 1,651 TEU (2018) 3,755 TEU (2018) 6,710 TEU (2015) 1,473 TEU (2015) 3,008 TEU (2015) 4,897 TEU (2018) 3,943 TEU (2015) Source: Alphaliner Monthly Reports Container Tra
Slide 10: Chartered Tonnage is an Integral Part of Liners' Business Model
Chartered Tonnage is an Integral Part of Liners’ Business Model Liners charter in just over half of their vessels both existing and on order. Long term charters are awarded to financially strong owners who have proven access to financing in a capital intensive industry. Fleet Statistics Chartere
Slide 11: Limited Competition
Limited Competition Top 15 Containership Owners (in TEUs) 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Current TEUs Orderbook TEUs * Non pure containership owner Source: Alphaliner Monthly Monitor, October 2018 Top 15 owners account for: 59.7% of the chartered orderb
Slide 12: Timecharter Rates and Vessel Prices Continue to Be at Low Levels
Timecharter Rates and Vessel Prices Continue to Be at Low Levels Containership Timecharter Index 200 180 160 140 120 100 80 60 40 20 0 Source: Clarksons Research Services, October 2018 Vessel Prices Indices 180 160 140 120 100 80 60 40 20 0 Newbuilding Prices Containership Index 10yr Old Secondhand
Slide 13: 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
Slide 14: Appendix – II
Appendix – II FLEET IN THE WATER NEWBUILDINGS # Vessel Name CMRE % Year Built Container Capacity (TEUs) # HULL NR CMRE % Year Built Container Capacity (TEUs) 1 TRITON 100% 2016 14,424 1 YZJ2015-2060 100% 2021 12,690 2 TITAN 100% 2016 14,424 2 YZJ2015-2061 100% 2021 12,690 3 TALOS 100% 2016 14,424 3