Costamare Inc. · NYSE:CMRE

Costamare — Q3 2010 Earnings Presentation

10 slides from Costamare's earnings presentation, Nov 23, 2010

  1. Slide 1: Third Quarter 2010 Financial Results Conference Call

    Third Quarter 2010 Financial Results Conference Call November 23, 2010

  2. Slide 2: Forward Looking Statement

    Forward Looking Statement This earnings release presentation contains “forward-looking statements”. In some cases, you can identify these statements by forward-looking words such as “believe”, “intend”, “anticipate”, “estimate”, “project”, “forecast” “plan”, “potential”, “may”, “should”, “could” and

  3. Slide 3: Quality Cash Flows

    Quality Cash Flows Revenue Contribution by Charterer (1) Contract Coverage (2) (Contracted / Total Days ) (%) 100 100.0 99.0 0.9% 75 82.8 2.1% 0.2% 50 65.5 58.1 54.8 3.4% 6.3% 25 0 2010 2011 2012 2013 2014 2015 10.3% 52.1% Charter Expirations by Year (3) 20 24.7% 15 16 10 10  Contracted revenues of

  4. Slide 4: Q3 2010 and Recent Highlights

    Q3 2010 and Recent Highlights  Listed on NYSE, November 4, 2010 (“CMRE”) IPO  Raised $160 million, excluding Underwriters Overallotment  13.3 million shares offered at $12 per share  On November 19 concluded the documentation for the $120 million credit facility $120 Million  18 month availabil

  5. Slide 5: Income Statement

    Income Statement Q3 2010 RESULTS 3Q 2009 3Q 2010 % Change Ownership Days 4,198 3,857 (8.1%) Average Number of Vessels 45.6 41.9 (8.1%) Voyage Revenue $97,157 $88,640 (8.8%) EBITDA $59,937 $63,365 5.7% D&A $(19,167) $(20,184) 5.3% Net Interest and Finance Costs $(16,712) $(19,396) 13.0% Net Income $2

  6. Slide 6: Balance Sheet

    Balance Sheet Q3 2010 Balance Sheet YE 2009 Q3 2010 Cash & Equivalents (*) $71,160 $78,629 Other Current Assets $23,587 $35,292 Fixed Assets $1,560,099 $1,527,449 Other Non-Current Assets $55,454 $66,293 TOTAL ASSETS $1,710,300 $1,707,663 Current portion of Long Term Debt $ 93,856 $107,969 Long Term

  7. Slide 7: Liquidity & Balance Sheet Management

    Liquidity & Balance Sheet Management Pro Forma as of September 30, 2010 (US$MM) Cash and Cash Equivalents (1) $228 Undrawn Credit Facilities (2) $194 Unencumbered Vessels (3) $200 Total Available Liquidity $622 Net Debt $1,145 Net Debt / LTM EBITDA 4.7x LTM EBITDA / LTM Interest 3.4x Current Debt Re

  8. Slide 8: Recovery Signs

    Recovery Signs Strong Fundamentals Virtually All Fleet Active Year-Over-Year Growth (%) TEU Idle (MM) % of feet Time Charter Index 20 200 1,6 14% 15 160 12% 10 1,2 10% 120 5 8% 0,8 0 6% 80 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 4% (5) 0,4 40 2% (10) 0,0 0% (15) 0

  9. Slide 9: Company Highlights

    Company Highlights A large, established company with a substantial fleet on the water  Strong, visible cash flows from a balanced portfolio of 45 vessels(1)  Long track record of growth and value creation  The ability to pay an attractive, substantial dividend and grow A rising market with strong

  10. Slide 10: Costamare Inc. Q&A

    Costamare Inc. Q&A

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