Slide 1: Discussion Materials
Exhibit 99.1 Discussion Materials June 2011
Slide 2: Forward Looking Statement
Forward Looking Statement This 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 “expect” and si
Slide 3: Costamare Snapshot
Costamare Snapshot § One of the largest independent owners of containerships § Fleet of 58 vessels, aggregating approximately 320,000 TEUs, including 10 newbuilds on order aggregating 89,000 TEU. § NYSE Listed (NYSE: CMRE) as of November 4, 2010 with a market cap of c. $1Bn § Executed transactions n
Slide 4: Total Investment Of $1.05 Billion Within 6 Months Of IPO
Total Investment Of $1.05 Billion Within 6 Months Of IPO l Ordered 3 x c. 9,000 TEU vessels from Shanghai Jiangnan Shipyard at a price of $95mm each, with delivery end of 2013 and beginning of 2014 and chartered them to MSC for 10 years at $43,000. Deal was identified at the IPO l Ordered 2 x c. 9,0
Slide 5: Straight Forward Investment Strategy
Straight Forward Investment Strategy High returns strategy based on countercyclical investments Newbuilding orders backed by first class charters. Re-chartering and re-leveraging provide strong upside. Secondhand vessels bought at attractive prices: · Either with time charter attached, minimizing re
Slide 6: Investing In Newbuildings At The Right Time
Investing In Newbuildings At The Right Time Costamare’s Newbuilding Orders l January 2005 - June 2008: Period during which September 2000, HHI most containership orders August 2000, HHI were placed August 1999, HHI l 6,644 TEU May 1998, HHI l 4,992 TEU l 5,500 TEU l 4,992 TEU l 6,644 TEU l 6,648 TEU
Slide 7: Newbuild Acquisitions Since IPO
Newbuild Acquisitions Since IPO Newbuild Acquisitions Since IPO(1) September 2011, Shanghai Jiangnan l (x3) 9,000 TEU l ~$95.0 million / vessel l Delivery 4Q13 - 1Q14 l EBITDA / Price: ~13%(2) January 2011, Sungdong l (x2) 8,800 TEU l ~$95.0 million / vessel l Delivery 4Q12 l EBITDA / Price: ~13% Ap
Slide 8: Our Secondhand Acquisitions - Key Point of Differentiation
Our Secondhand Acquisitions - Key Point of Differentiation Costamare’s Secondhand Acquisitions Acquisitions backed by LT Charters 4,828 TEU 4,828 TEU 7,403 TEU 1,068 TEU 7,403 TEU 1,173 TEU 7,403 TEU 1,173 TEU 2,922 TEU 1,173 TEU 1,548 TEU 2,922 TEU 1,173 TEU 2,92 TEU 2,922 TEU 3,152 TEU 3,876 TEU 3
Slide 9: Illustrative Vessel Economics
Illustrative Vessel Economics Acquisition Price: ~$95.3mm Acquisition Price: $11.25mm Time Charter Rate: $42,150 pd Time Charter Rate: $16,580 pd Est. Annual EBITDA(4): $12.2mm Est. Annual EBITDA(4): $3.7mm Est. Initial Annual EBITDA Yield (5): Est. Initial Annual EBITDA Yield (5): ~13% ~32% n Retur
Slide 10: Significant Built-in growth
Significant Built-in growth l 10 Newbuilds ordered at prices well below the historical average l Additional contracted revenues(4) of approx. $1.3Bn over the charter term l Incremental estimated annual revenues of approx. $152mm upon delivery of all newbuilds l Incremental estimated annual EBITDA(3)
Slide 11: High Quality Cash Flows with Rechartering Upside
High Quality Cash Flows with Rechartering Upside Revenue Contribution by Charterer Contract Coverage (Contracted / Total Days ) (%) 0.5% 1.8% 0.7% Other 5.9% 14.7% 31.1% Charter Expirations by Year Open TEUS 17.7% 27.6% · Contracted revenues of $3.1Bn · TEU-weighted average remaining time charter du
Slide 12: Risk Management
Risk Management Debt Repayment Schedule as of March 31, 2011 (US $ thousands)(1) 2011(2) 2012 2013 2014 2015 2016 2017 2018 $95,198 $149,011 $132,503 $129,978 $130,103 $130,103 $172,103 $383,338 l Smooth amortization schedule minimizes re-financing risk l Distributable cash flow calculated on a post
Slide 13: Income Statement
Income Statement Q1 2011 RESULTS(1) Ownership Days 3,874 4,099 5.8% Average Number of Vessels 43.0 45.5 5.8% EBITDA(2) $ 60,795 $ 56,857 (6.5%) D&A $(18,851) $(20,356) (8.0%) Net Interest and Finance Costs $(17,261) $(18,553) 7.5% Net Income $24,683 $17,948 (27.3%) Weighted Average Number of Shares
Slide 14: Container Shipping Industry Fundamentals Are Strong
Container Shipping Industry Fundamentals Are Strong Year-Over-Year Growth (%) Time Charter Index Source: Source: Clarkson Clarkson Research Research Total Container Fleet Container Trade (MM TEU) Time Charter Index Development (MM TEU) Source: Source: AXS-Alphaliner AXS-Alphaliner TEUs % of Global I
Slide 15: Company Highlights
Company Highlights Large, established company with a substantial fleet on the water Proven track record both pre and post- IPO • Long track record of growth and value •creation Focus on high-return investments A company uniquely positioned to grow • Low Leverage • Re-chartering upside • Well positio
Slide 16: Costamare Inc. Q&A
Costamare Inc. Q&A
Slide 17: Appendix: Net Income to EBITDA and Adjusted EBITDA Reconciliation
Appendix Net Income to EBITDA and Adjusted EBITDA Reconciliation Three-month ended March 31, (Expressed in thousands of U.S. Dollars) Year Ended (Expressed in thousands of U.S. Dollars) December 31,2010 2010 2011 Net Income $ 24,683 $ 17,948 Net Income $ 81,224 Interest and finance costs 71,949 Inte
Slide 18: Appendix: Assumptions for 2012-2014 Projected Newbuild Revenues and EBITDA
Appendix Assumptions for 2012 - 2014 Projected Newbuild Revenues and EBITDA l 2 newbuild vessels delivered in 2012, 7 newbuild vessels delivered in 2013; 1 newbuild vessel delivered in 2014 l Delivery dates per current shipyard schedules l Utilization of 364 days per year l Operating expenses per cu