Slide 1: First Quarter 2016 Financial Results Conference Call
First Quarter 2016 Financial Results Conference Call April 21, 2016
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
Recent Transactions On April 1, 2016, we declared a dividend for the first quarter ended March 31, 2016, of $0.29 per share on our common stock, payable on May 4, 2016, to stockholders of record on April 19, 2016 On April 1, 2016, we declared a dividend of $0.476563 per share on our Series B Div
Slide 4: Recent Transactions – Chartering
Recent Transactions – Chartering The Company entered into the following chartering arrangements: Agreed to extend the charters of the MSC Reunion, MSC Namibia II and MSC Sierra II, the 2,000 TEU containerships, built in 1992, 1992 and 1991, respectively, with MSC for a period of minimum 11 and max
Slide 5: Income Statement
Income Statement Q1 2016 RESULTS 1Q 2015 1Q 2016 % Change Ownership Days 4,950 4,914 (0.73%) Average Number of Vessels 55 54 (1.82%) Voyage Revenues $120,850 $120,274 (0.48%) (*) EBITDA 81,908 81,994 0.10% Depreciation & Amortization 28,119 28,453 1.19% Net Interest and Finance Costs 27,505 18,545 (
Slide 6: High Quality & Stable Cash Flows
High Quality & Stable Cash Flows Revenue Contribution (All Vessels)(1)(2) Other • As of April 20, 2016, contracted 0.7% 0.3% 0.2% revenues of approximately $1.9Bn(1)(2) 3.4% 6.7% • TEU-weighted average remaining time charter duration for the fleet is about 3.5 years(1)(2) 37.0% 15.6% • Significant b
Slide 7: 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 LTM Mar 2016 Adj. EBITDA Margin 62.6% 60.9% 61.1% 63.3% 71.9% 65.5% 68.2% 69
Slide 8: Costamare's Remaining Capex Commitments
Costamare’s Remaining Capex Commitments Remaining Capex Commitments (CMRE portion) $MM 120 Have already paid 50% of total yard instalments. The Company is in 104.5 100 discussions with banks for the financing of the remaining 50% yard instalment 80 60 86.4 86.4 40 10-year charter contracts with 7-ye
Slide 9: Timing of Last Chartering of Ships Opening in 2016
Timing of Last Chartering of Ships Opening in 2016 (1) 1 4 Timing of Last Chartering of Ships Opening in 2016 vs Historical Charter Rate Index (2) Containership 7 14 Timecharter Rate Index 8 5 15 12 200.0 6 9 16 1 4 10 13 17 160.0 2 11 3 120.0 80.0 40.0 0.0 Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10
Slide 10: 2016 Re-chartering Remaining Revenue Sensitivity
2016 Re-chartering Remaining Revenue Sensitivity 2016 Remaining Revenue Sensitivity Based on Re-Chartering Discount (1) Revenue Sensitivity 100% 0.7% 1.5% 2.2% 2.9% 3.6% 4.4% 5.1% 90% 80% Contracted Revenues 70% for the next nine 60% months(*), including 50% revenues from re- 40% chartering at exist
Slide 11: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet 900 14% 800 12% 700 10% 600 8% 500 6% 400 4% 300 2% Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Source: Howe Robinson as of April 13, 2016 0% Mar-09 Jul-10 Dec-11 Apr-13 Sep-14 Mar-16 Orderbook
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 March 31, Earnings per Share represent net income after earnings allocated to preferred stock, but
Slide 14: Appendix - II
Appendix - II Net Income to EBITDA and Adjusted EBITDA Reconciliation Three-month period ended Note: EBITDA represents net income before interest and finance costs, March 31, interest income, amortization of prepaid lease rentals, depreciation and (Expressed in thousands of U.S. amortization of defe