Slide 1: Second Quarter 2018 Financial Results Conference Call
Second Quarter 2018 Financial Results Conference Call July 25, 2018
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: Q2 Highlights
Q2 Highlights Performance Adjusted EPS of $0.10. Fleet Fleet utilization of 99.7%(1). 27 vessels in new or extended time charters(2). Growth Order of five 12,690 TEU newbuild containerships on 10-year charter to Yang Ming. Acquisition of two 2013-built, 4,957 TEU sister containerships with
Slide 4: Q2 2018 New Chartering Agreements (1/2)
Q2 2018 New Chartering Agreements (1/2) # Vessel Built TEUs Latest Fixture Term 1 Cape Sounio 2017 11,000 $30,700 7 to 9 months Forward fixing starting from previous earliest redelivery date 2 Sealand Washington 2000 6,648 at a base rate adjusted pursuant to a profit/loss sharing 45 to 52 months mec
Slide 5: Q2 2018 New Chartering Agreements (2/2)
Q2 2018 New Chartering Agreements (2/2) # Vessel Built TEUs Latest Fixture Term 12 Prosper 1996 1,504 $10,100 201 to 260 days 13 MSC Sierra II 1991 2,023 $9,170 11 to 13 months 14 MSC Namibia II 1991 2,023 $9,170 11 to 13 months 15 Zagora 1995 1,162 $7,800 334 to 395 days 16 Petalidi 1994 1,162 $8,3
Slide 6: Recent Transactions – Vessel Disposals / Dividend Declarations
Recent Transactions –Vessel Disposals/ Dividend Declarations In June 2018, we sold for demolition the 1988-built, 4,842 TEU container vessel Itea. Vessels disposals In July 2018, we agreed to sell for demolition the 1998-built, 1,645 TEU container vessel Padma. The sale is expected to be conclud
Slide 7: Q2 2018 Income Statement Snapshot
Q2 2018 Income Statement Snapshot Q2 2018 RESULTS 2Q 2017 2Q 2018 % Change Ownership Days 4,778 4,948 3.6% Average Number of Vessels 52.5 54.4 3.6% Voyage Revenues $105,017 $90,577 (13.8%) Net Interest and Finance Costs(*) 16,892 13,912 (17.6%) (**) Adjusted Net Income Available to Common Stockholde
Slide 8: High Quality & Stable Cash Flows
High Quality & Stable Cash Flows Revenue Contribution (All Vessels)(1)(2) As of July 25, 2018, contracted Other 0.6% 1.2% revenues of approximately 0.4% $1.8Bn(1)(2) 19.0% TEU-weighted average remaining 31.2% time charter duration for the fleet is about 3.7 years(1)(2) 23.1% 24.6% Notes 1. Based
Slide 9: Prudent Balance Sheet Management
Prudent Balance Sheet Management Total Cash and Cash Equivalents as of June 30, 2018 of $160m. Disciplined management of our Balance Sheet, with $0.9 bn of Net Debt as of June 30th. Net Debt to Equity Ratio of 0.68x (as of June 30, 2018). Gross Total Debt(1) decreased from $1.9bn to $1.1bn,
Slide 10: Container Shipping Industry
Container Shipping Industry Charter Rates Idle Fleet Charter Index (HRCI)(1) %of fleet 15% 900 800 700 10% 600 1.4% 500 5% 400 300 0% Jul-09 Jul-10 Jul-11 Jul-12 Jul-13 Jul-14 Jul-15 Jul-16 Jul-17 Jul-18 Source: Howe Robinson as of July 18, 2018 Source: AXS-Alphaliner as of July 17, 2018 Orderbook B
Slide 11: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 12: Appendix – I
Appendix – I 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, Note: Adjusted Net Income available to common stockholders and Adjusted 2017 2018 except share and per share data) Earnin