Slide 1: Second Quarter 2017 Financial Results Conference Call
Second Quarter 2017 Financial Results Conference Call July 26, 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 – Vessel deliveries, New financing transactions
Recent Transactions – Vessel deliveries, New financing transactions On May 15, 2017 and May 18, 2017, we accepted delivery of the 2014-built 4,957 TEU containerships, Leonidio and Kyparissia, respectively. Both vessels are chartered to Maersk Line for a 7-year period. On May 16, 2017, we accepte
Slide 4: Recent Transactions – Follow-on Offering
Recent Transactions – Follow-on Offering On May 31, 2017, the Company completed a follow-on public offering of 13.5 million shares of its common stock at $7.10 per share, upsized from an initial 12.5 million Follow-on shares. The gross proceeds from the offering before the underwriting discount an
Slide 5: Recent Transactions – Charterings
Recent Transactions – Charterings We have no ships laid up including all vessels acquired under our JV with York Capital. The Company entered into the following chartering arrangements: Agreed to extend the charter of the 1995-built, 1,162 TEU containership Zagora with MSC for a period of 11 to 13
Slide 6: Recent Transactions – Dividend Declarations
Recent Transactions – Dividend Declarations On July 3, 2017, we declared a dividend for the second quarter ended June 30, 2017, of $0.10 per share on our common stock, payable on August 7, 2017, to stockholders of record on July 24, 2017. Dividend As long term committed shareholders, members of
Slide 7: Q2 2017 Income Statement Snapshot
Q2 2017 Income Statement Snapshot Q2 2017 RESULTS 2Q 2016 2Q 2017 % Change Ownership Days 4,914 4,778 (2.8%) Average Number of Vessels 54 52.5 (2.8%) Voyage Revenues $119,525 $105,017 (12.1%) Net Interest and Finance Costs 17,394 16,892 (2.9%) Adjusted Net Income Available to Common Stockholders(*)
Slide 8: High Quality & Stable Cash Flows
High Quality & Stable Cash Flows Revenue Contribution (All Vessels)(1)(2) (3) Other As of July 26, 2017, contracted 3.4% 0.9% revenues of approximately $1.4Bn(1)(2) 2.9% TEU-weighted average remaining 37.8% time charter duration for the fleet is 16.3% about 3.1 years(1)(2) 38.7% Notes 1. Based o
Slide 9: Consistently Strong Performance
Consistently Strong Performance Historical Financial Performance vs. Containership Time Charter Rate Index (1) $MM 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 LTM 2017 Note Adjusted 1. Source: Clarkson, Company filings Revenue Containershi
Slide 10: CAPEX – New Acquisitions
CAPEX – New Acquisitions Newbuild Capex Commitments (1) New Acquisitions $MM Acquired three secondhand vessels with long 5 term time charters to Maersk Line. Two wide beam containerships of approx. 5,000 TEUs, 2014-built. 4 • 7 year time charters to Maersk Line • Financed under sale and leasebac
Slide 11: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet 2.5% Source: Howe Robinson as of July 19, 2017 Source: AXS-Alphaliner as of July 18, 2017 Orderbook Box Rates Orderbook/ Total Fleet (%) CCFI & SCFI Indices 13.7% Source: Clarkson as of July 21, 2017 Source: Clark
Slide 12: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 13: Appendix - I
Appendix - I Net Income to Adj. Net Income Available to Common Stockholders and Adj. EPS Reconciliation Three-month period ended Note: Adjusted Net Income available to common stockholders and Adjusted June 30, Earnings per Share represent Net Income after earnings allocated to preferred stock, but b