Americold Realty Trust, Inc. · NYSE:COLD
Americold Realty Trust — Q1 2024 Earnings Presentation
22 slides from Americold Realty Trust's earnings presentation, May 9, 2024
Slide 1: Investor Presentation
a — INVESTOR AMEPICOLD PRESENTATION
Slide 2: Disclaimer
Disclaimer This presentation contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future financial and operating performance and growth plans, taking into account
Slide 3: Key Investment Highlights
Key Investment Highlights Global Market Leader Focused on Temperature-Controlled Warehouses Integrated Network of Strategically-Located, High-Quality, “Mission-Critical” Warehouses Infrastructure Supported by Best-in-Class IT and Operating Platforms Provides a Significant Competitive Advantage Fall
Slide 4: Company Snapshot
Company Snapshot Global leader in temperature-controlled logistics real estate and value added services focused on the ownership, operation, development and acquisition of temperature-controlled warehouses Portfolio Overview Warehouses Ownership Total Average Geographic Estimate of N.A. Number of Nu
Slide 5: Fully Integrated Network of Temperature-Controlled Warehouses
Fully Integrated Network of Temperature-Controlled Warehouses An indispensable component of food infrastructure from “farm to fork" Restaurant Government Hotel Food Service Farm School Sports Hospital Distribution Center Fork Supermarket Production Advantaged Distribution Warehouse Center / Public F
Slide 6: Integrated Operations Overview
Integrated Operations Overview Real estate value is driven by the critical nature of our infrastructure, strategic locations and integrated, full-service strategy Segment Overview Select Customers % of Contribution (1) ▪ Mission-critical, temperature-controlled real estate infrastructure generates r
Slide 7: Strategically Located, "Mission-Critical" Temperature-Controlled Warehouses
Strategically Located, “Mission-Critical” Temperature-Controlled Warehouses Strategic locations and extensive geographic presence provide an integrated warehouse network that is fundamental to customers’ ability to optimize their distribution networks North America Europe Asia-Pacific South America
Slide 8: A Global Market Leader in Temperature-Controlled Warehousing
A Global Market Leader in Temperature-Controlled Warehousing Our position as a global market leader allows us to realize economies of scale, reduce operating costs and lower our overall cost of capital. Ideally positioned to compete for customers and external growth opportunities North American Mark
Slide 9: Highly Diversified Business Model Produces Stable Cash Flows
Highly Diversified Business Model Produces Stable Cash Flows Diversification helps reduce revenue volatility associated with seasonality and changing commodity trends Pro Forma Commodity Pro Forma Global Geographic Diversity (1) Global Warehouse U.S. Warehouse Potatoes Beef South America Central Sou
Slide 10: Long-Standing Relationships with Top 25 Customers
Long-Standing Relationships with Top 25 Customers Scope and scale of network coupled with long-standing relationships position us to grow market share organically and through acquisitions Representative Food Producers / CPG Companies (1) Top 25 Customers Have been with Americold for an average of ~3
Slide 11: Growing Committed Revenue in Warehouse Portfolio
Growing Committed Revenue in Warehouse Portfolio Significant improvement transitioning from as-utilized, on demand contracts to fixed storage committed contracts and leases ▪ Fixed storage committed contracts and leases currently Total LTM Warehouse Rent & Storage Revenue represent: $1,042 $1,064 $1
Slide 12: Global Warehouse Financial Summary
Global Warehouse Financial Summary Warehouse Revenue ($mm) $2,303 $2,391 $2,394 $2,085 $1,549 $1,289 $1,294 $1,377 $1,304 $1,209 $883 $795 $876 $999 $1,102 $1,100 $583 $666 2019A 2020A 2021A 2022A 2023A LTM 3/31/24 Rent & Storage Warehouse Services Warehouse NOI ($mm) Contribution (NOI) Margin: 32.5
Slide 13: Same Store Warehouse NOI Driven by Rental & Storage Revenue
Same Store Warehouse NOI Driven by Rental & Storage Revenue + = Rent & Storage Warehouse Services Total Warehouse Commentary Revenues REIT: Rent & Storage $0.45 $0.55 $1.00 TRS: Warehouse Services Power ($0.06) – ($0.06) Power and utilities Other Real Estate Related Costs: facility Facility ($0.10)
Slide 14: Disciplined Growth Strategy
Disciplined Growth Strategy Global warehouse network, operating systems, scalable information technology platform and economies of scale provide a significant advantage over competitors with respect to organic and external growth opportunities Proactive Asset Management “Same Store” Warehouse 1 9 Ra
Slide 15: Organic Growth Initiatives Have Driven Stable Same Store Performance
Organic Growth Initiatives Have Driven Stable Same Store Performance Historical same store performance is the culmination of active asset management, our integrated network and market position, successful implementation of commercial strategies and disciplined operations focus Same Store Warehouse R
Slide 16: Expansion and Development Overview
Expansion and Development Overview Expansion and Development Opportunities (1) Recently Lancaster, PA Spearwood, Australia Total Estimated Cost ⁽²⁾ Total Estimated Stabilized NOI (3) Completed / Ramping to Gateway, GA Phase 2 Plainville, CT ~$496mm ~$55mm Stabilization Russellville, AR Reflects proj
Slide 17: Recent Strategic Partnerships
Recent Strategic Partnerships Our recent strategic partnerships illustrates Americold's unique ability to create value by collaborating with global leaders in the supply chain DP World Canadian Pacific Kansas City (“CPKC”) ▪ In Q4 2022, COLD entered into a strategic agreement with DP World, ▪ In Q2
Slide 18: Completion of Two Automated Facilities for Ahold Delhaize
Completion of Two Automated Facilities for Ahold Delhaize The Ahold Delhaize highly automated development is an opportunity for Americold to continue to grow in the retail sector Development Overview ▪ COLD competed the development of two automated, retail fulfillment centers for Ahold Delhaize USA
Slide 19: Russellville, AR Expansion for Conagra Brands
Russellville, AR Expansion for Conagra Brands The Russellville highly automated expansion is an opportunity to provide mission critical, long-term infrastructure for a top tier strategic customer Expansion Overview ▪ COLD expanded its Russellville, Arkansas facility for a total of $90mm in a dedicat
Slide 20: Well-Laddered Balance Sheet with Significant Liquidity
Well-Laddered Balance Sheet with Significant Liquidity Real Estate Debt Maturity (1) Total Debt Profile % of Debt Maturing ✓ Investment grade ratings: BBB (Fitch / DBRS Morningstar), Baa3 (Moody’s) – – 7% 27% 15% 13% 11% 14% – 12% – Debt Type Rate Type Revolver Balance ⁽²⁾ $235 $456 Senior Unsecured
Slide 21: Commitment to Environmental, Social and Governance Initiatives
Commitment to Environmental, Social and Governance Initiatives Commitment to energy excellence and efficiency Recognized under the Global Cold Chain Alliance’s (GCCA) new Energy Excellence Recognition Program with Gold, Silver or Bronze certifications at 217 facilities 28 ENERGY STAR certified b
Slide 22: Commitment to Environmental, Social and Governance Initiatives
Commitment to Environmental, Social and Governance Initiatives Environmental by the Numbers 20,672 MEGAWATT $13M+ INVESTED 217 TOTAL SITES HOURS (MWh) 53 sustainability projects Certified by the GCCA Energy Renewable energy produced in 2023 commenced in 2023 Excellence Recognition Program 41 MWh 13%
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