Slide 1: Second Quarter 2015 Financial Results Conference Call
Second Quarter 2015 Financial Results Conference Call July 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 May 2015, the Company reached an agreement with York to extend the Framework Agreement until May 2024 and extend the investment period under the Framework Agreement Framework until May 2020. Agreement The investment period pursuant to the Framework Agreement with York Capi
Slide 4: Recent Transactions – Chartering
Recent Transactions – Chartering The Company entered into the following chartering arrangements: Agreed to extend the charter of the 1995-built, 1,162 TEU containership Zagora with MSC for a period of minimum 12 and maximum 14 months starting from May 1, 2015 at a daily rate of $7,400. Agreed to
Slide 5: Income Statement
Income Statement Q2 2015 RESULTS 2Q 2014 2Q 2015 % Change Ownership Days 5,070 5,005 (1.3%) Average Number of Vessels 55.7 55.0 (1.3%) Voyage Revenues $123,505 $123,219 (0.2%) EBITDA(*) 79,415 94,180 18.6% Depreciation & Amortization 29,610 28,345 (4.3%) Net Interest and Finance Costs 22,425 21,506
Slide 6: High Quality & Stable Cash Flows - Strong Relationships
High Quality & Stable Cash Flows - Strong Relationships Revenue Contribution (All Vessels)(1)(2) As of July 21, 2015, contracted Other 0.1% revenues of approximately 0.6% $2.1Bn(1)(2) 1.8% 8.3% TEU-weighted average remaining time charter duration 37.2% for the fleet is about 4 years(1)(2) 18.0%
Slide 7: Current Market Rates vs Today’s Market For Vessels
Current Market Rates vs Today’s Market For Vessels Opening During 6m 2015 TC/Day $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 1 Vessel 2 Vessels 1 Vessel 3 Vessels 3 Vessels 2 Vessels 1 Vessels 2 Vessels $0 8,500 TEU 6,000 TEU 5,000 TEU 3,500 TEU 2,500 TEU 1,700 TEU G 1,700 TEU 1,100 TEU Current H
Slide 8: Timing of Acquisitions of Ships Opening within 2H 2015
Timing of Acquisitions of Ships Opening within 2H 2015 Vessel Acquisitions Opening in 2H 205 vs Historical Charter Rate Index Containership Timecharter Rate Index 200 15 180 6 9 10 14 160 11 13 140 5 8 12 120 4 3(1) 7 100 Vessel 80 acquisitions at 60 a historically low charter 2(1) 40 rate environme
Slide 9: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet Source: Howe Robinson 1.8% Source: AXS-Alphaliner Orderbook Orderbook/ Total Fleet 70% 60% Charter market has softened over the recent months. 50% Idle fleet remains at low levels, below 2% 40% Orderbook is
Slide 10: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 11: Net Income to Adj. Net Income Available to Common Stockholders Reconciliation
Appendix Net Income to Adj. Net Income Available to Common Stockholders and Adj. EPS Reconciliation Three-month period ended June 30, (Expressed in thousands of U.S. dollars, 2014 2015 except share and per share data) Net Income $ 27,380 $ 44,329 Earnings allocated to Preferred Stock (3,113) (4,303)
Slide 12: Net Income to EBITDA and Adjusted EBITDA Reconciliation
Appendix Net Income to EBITDA and Adjusted EBITDA Reconciliation Three-month period ended June 30, (Expressed in thousands of U.S. 2014 2015 dollars) Net Income $ 27,380 $ 44,329 Interest and finance costs 22,566 21,800 Interest income (141) (294) Depreciation 26,610 25,345 Amortization of prepaid l