Slide 1: Second Quarter 2016 Financial Results Conference Call
Second Quarter 2016 Financial Results Conference Call July 28, 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 – Financings
Recent Transactions – Financings In May 2016, we entered into a $39 million, 5 year loan facility with a leading US financial institution. The facility will be secured, with a first priority mortgage on the 2010-built 8,531TEU Navarino. New Financing Transactions In June 2016, we entered into a
Slide 4: Recent Transactions – Deliveries & Chartering
Recent Transactions – Deliveries & Chartering On May 3, 2016 and June 13, 2016, we accepted delivery of the 14,424TEU containerships Triton Newbuild Vessel and Titan, two containerships acquired pursuant to our joint venture with York that are subject to sale Deliveries and leaseback transactions
Slide 5: Recent Transactions – Dividends
Recent Transactions – Dividends On July 6, 2016, we declared a dividend for the second quarter ended June 30, 2016, of $0.29 per share on our common stock, payable on August 17, 2016, to stockholders of record on August 3, 2016. Dividend On July 6, 2016, we declared a dividend of $0.476563 per s
Slide 6: Income Statement
Income Statement Q2 2016 RESULTS 2Q 2015 2Q 2016 Ownership Days 5,005 4,914 Average Number of Vessels 55 54 Voyage Revenues $123,219 $119,525 (*) EBITDA 91,743 82,969 Depreciation & Amortization 28,345 28,533 Net Interest and Finance Costs 19,069 17,394 Net Income Available to Common Stockholders 40
Slide 7: High Quality & Stable Cash Flows
High Quality & Stable Cash Flows Revenue Contribution (All Vessels)(1)(2) Other As of July 27, 2016, contracted 0.3% 0.1% 0.1% revenues of approximately $1.7Bn(1)(2) 2.8% 6.3% TEU-weighted average remaining time charter duration for the fleet is about 3.5 years(1)(2) 38.1% 15.2% Significant bu
Slide 8: 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 Jun 2016 Adj. EBITDA Margin 62.6% 60.9% 61.1% 63.3% 71.9% 65.5% 68.2% 69
Slide 9: Costamare's Remaining Capex Commitments
Costamare’s Remaining Capex Commitments Remaining Capex Commitments (CMRE portion of yard instalments)(1) $MM 70 60 57.6 We have already paid 50% of total yard instalments with equity and have completed financing for the 50 remaining yard instalments for the first two vessels 40 43.2 30 43.2 20 10-y
Slide 10: Timing of Last Chartering of Ships Opening in 2016
Timing of Last Chartering of Ships Opening in 2016 1 4 Timing of Last Chartering of Ships Opening in 2016 vs Historical Charter Rate Index (1)(2)(3) Containership 4 Timecharter Rate Index 10 5 200.0 2 6 9 11 3 12 160.0 1 7 13 8 14 120.0 15 16 80.0 40.0 0.0 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10 J
Slide 11: 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% 0.4% 0.9% 1.3% 1.7% 2.2% 2.6% 3.0% 90% 80% Contracted 70% Revenues for the next 60% six months(*), 50% including revenues from re- 40% chartering at existi
Slide 12: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet 900 14% 800 12% 700 10% 600 08% 500 06% 400 300 04% Apr-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Apr-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Apr-16 Jan-14 May-14 Jun-14 Jan-15 May-15 Jun-15 Jan-16 May-16 Jun-16 Feb-14
Slide 13: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 14: Appendix - I
Appendix - I Net Income to Adj. Net Income Available to Common Stockholders and Adj. EPS Reconciliation Three-month period ended June 30, Note: Adjusted Net Income available to common stockholders and Adjusted Earnings per Share represent net income after earnings allocated to preferred (Expressed i
Slide 15: Appendix - II
Appendix - II Net Income to EBITDA and Adjusted EBITDA Reconciliation Three-month period ended June 30, (Expressed in thousands of U.S. Note: EBITDA represents net income before interest and finance costs, 2015 2016 interest income, amortization of prepaid lease rentals, depreciation and dollars) am