Q1 2025 Costamare Inc Earnings Call
Speaker Change: We have with us Mr. Gregory Zikos, Chief Financial Officer of the company.
Speaker Change: At this time, all participants are in a listen only mode. There will be a presentation followed by a question and answer session. At which time, if you wish to ask a question, please press star one on your telephone keypad and wait for your name to be announced.
Speaker Change: I must advise you that this conference is being recorded today, Thursday, May 8, 2025.
Speaker Change: We would like to remind you that this conference call contains forward-looking statements.
Speaker Change: Please take a moment to read slide number two of the presentation which contains the forward-looking statements.
Speaker Change: And I will now pass the floor to your speaker today, Mr Zikos. Please go ahead, sir.
Zikos: Thank you and good morning ladies and gentlemen. During the first quarter of the year, the company generated 19 come of about 95 million.
Zikos: As are now on May 7th, we have successfully completed the spin-off of Costamare Parkers, which encompasses the 27-ohlen drive-ball presses, as well as the CBI operating platform.
Zikos: Costamare Inc. remains the source of order of the Sixth-Kate Containerships, as well as the
Zikos: This business separation unlocks hidden value and better positions the two separate these companies to pursue this thing operating in strategic initiatives in the container ship and the dry park sector.
Zikos: Regarding the content of the market, why geopolitical challenges in the economic uncertainty of this hip and global trade, the market for the domestic investors has had to now maintain momentum. The commercially added further remains below 1%, indicating a full employed market.
Zikos: Regarding the proposed USTR phase, fleet redeployment and network reorganization may initially result in efficiencies bursting from a demand.
Zikos: Our equiterrency fleet employment stands at 100% and 73% for 2025 and 2026 respectively. Total contracted revenues amount to 2.3 billion with the remaining tariff at a duration of 3.3 years.
Zikos: The Paramax Activity picked up as expected, post Chinese material supported by recovering grain flows Finally with regards to
Moving now to the slides presentation.
Zikos: Osly 3 you can see our first quarter results netting off the quarter was 95 million or 79 cents per share and definitely come was 73 million or 69 cents per share our liquidity stands at about
Zikos: Slide 4. We are currently successfully the spin-off of our driver's business. Every Costamare Inc. shareholder will be receiving as dividend one share of Costamare partners for every five shares of Costamare Inc.
Zikos: Turning to the Convention of the Society, our revenues days are fixed as we already mentioned 100% for 25% and the 73% for 2026, what our contract revenues are 2.3 billion with a
[inaudible]
Zikos: Slide 5. Regarding our SAP activity for the span of dry business, we have occluded the sale of one panamaxi and agreed to sell one had a size vessel. Vessel proceeds are expected to be used for the position of larger vessels, subject to
Zikos: Flight 6, regarding our financing arrangements, we have defined a strong alternative vessel with no increased leverage, but with a matured extension. The remaining governor has no mature maturity until 2027.
Zikos: of the driver's side. We have prepared to seek $150 million of money and we have entered into a new hunting license facility of up to $100 million for financing of future of
Thank you.
Zikos: Moving to Slide 7, regarding the CBIFI to be subject to other 48 pilot ships with a majority of the fleet being on index-link agreement.
Zikos: On our leasing platform, we have invested around $123 million. NML is financing 41 assets for a total amount of $513 million.
Zikos: Moving to slide 8, further 8 to the contingency market, remain on firm levels.
Zikos: Chaturates, fabricavers from their Los in February . The order book is at around 10% of the total
Zikos: With that we conclude our presentation and we cannot take questions. Thank you. Operator, we can take questions now.
Speaker Change: Thank you. As a reminder, if you would like to ask a question, please press star 1 on your telephone keypad and wait for your name to be announced.
Zikos: If you wish to cancel your request, please press star two. Again, let's star one to ask a question.
Zikos: At this time, we will pause momentarily to assemble our roster.
Zikos: Again, to ask a question, you may press star and then the number one on your telephone
Speaker Change: Seeing no questions at this time, I would like to pass the call back to Mr. Zikos for closing remarks.
Mr. Zikos: Thank you for diving in today and for your testing, Costamare. We are looking forward to speaking with you again in the next quarterly results call. Thank you.
Speaker Change: Thank you. That does conclude our conference for today. Thank you all for participating. You may now disconnect your lines.
Speaker Change: A film by a film by a film by a film by a film by a film by a film by a film by a film by a film by