Slide 1: Third Quarter 2015 Financial Results Conference Call
Third Quarter 2015 Financial Results Conference Call October 22, 2015
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 In August 2015, together with York Capital, we agreed to acquire the 2001-built, 1,550 TEU containership Arkadia for a price of $6.0 million. The Company holds a 49% equity percentage in the vessel owning entity. The vessel was delivered on September 9, 2015. The Company agreed
Slide 4: Recent Transactions – Chartering
Recent Transactions – Chartering The Company entered into the following chartering arrangements: Exercised the options to extend for one year the charters of the 2002-built 4,992 TEU containerships Zim New York and Zim Shanghai with Zim. The daily rate has been determined at $14,534 starting from
Slide 5: Income Statement
Income Statement Q3 2015 RESULTS 3Q 2014 3Q 2015 % Change Ownership Days 5,058 5,060 0.0% Average Number of Vessels 55.0 55.0 – Voyage Revenues $124,726 $124,033 (0.6%) EBITDA(*) 94,136 84,876 (9.8%) Depreciation & Amortization 30,063 28,730 (4.4%) Net Interest and Finance Costs 26,999 21,323 (21,0%
Slide 6: High Quality & Stable Cash Flows
High Quality & Stable Cash Flows Revenue Contribution (All Vessels)(1)(2) As of October 21, 2015, Other contracted revenues of 0.2% 0.6% approximately $2Bn(1)(2) 1.5% 7.9% TEU-weighted average remaining time charter duration 37.4% for the fleet is about 4 years(1)(2) 17.3% Significant built-in
Slide 7: Timing of Last Chartering of Ships Opening in 2015 and 2016
Timing of Last Chartering of Ships Opening in 2015 and 2016 1 4 Timing of Last Chartering of Ships Opening in 2015 and 2016 vs Historical Charter Rate Index (1) Containership Timecharter Rate Index 17 6 8 10 11 200 18 7 9 12 180 4 5 19 21 1 13 160 2 20 22 14 140 23 3 15 120 24 16 100 25 80 60 40 20
Slide 8: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet 850 7.0% 800 6.0% 750 5.0% 700 4.0% 650 3.0% 600 Source: Howe Robinson 550 2.0% Source: AXS-Alphaliner 500 1.0% 450 0.0% Jul-12 Jul-13 Jul-14 Jul-15 Jan-12 Jan-13 Jan-14 Jan-15 Sep-12 Nov-12 Sep-13 Nov-13 Sep-14 N
Slide 9: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 10: Appendix: Net Income to Adjusted Net Income Reconciliation
Appendix 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, except share and per 2014 2015 share data) Net Income $ 37,074 $ 34,823 Earnings allocated to Preferred Stock (3,112) (5
Slide 11: Appendix: Net Income to EBITDA and Adjusted EBITDA Reconciliation
Appendix Net Income to EBITDA and Adjusted EBITDA Reconciliation Three-month period ended September 30, (Expressed in thousands of U.S. dollars) 2014 2015 Net Income $ 37,074 $ 34,823 Interest and finance costs 27,239 21,644 Interest income (240) (321) Depreciation 27,027 25,623 Amortization of prep