附录99.1

COSTAMARE公司公布截至2024年9月30日的第三季度和九个月的业绩报告。

2024年11月1日，摩纳哥 - costamare inc.（「costamare」或「公司」）（纽交所：CMRE）今天报告了截至2024年9月30日的第三季度（「2024年第三季度」）和九个月的未经审核财务业绩。

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协议内容：

¹ 调整后可供普通股股东使用的净收入及相应每股数字皆为非GAAP措施，不应孤立使用或作为costamare根据美国通则会计准则（“GAAP”）提出的财务结果的替代。有关这些措施的定义和与GAAP按照计算和提出的最直接可比财务措施的调和，请参阅附件I。

² 包括我们在2013年5月15日签订的框架协议（签订及不时修订的「框架协议」）与York Capital Management Global Advisors LLC及其联属基金（统称为「York Capital」）之间船舶拥有公司持有的10万美元现金份额，在货运协议（「FFAs」）及燃油掉期相关的保证金存入2990万美元、短期投资于总值1830万美元的美国国库券和两个狩猎牌照计划资金中截至2024年9月30日尚有9420万美元未提取的资金。

³ 请参阅99.2号附件中的货柜船队清单表，了解我们货柜船队船舶使用详细资讯。

⁴ 以标准货柜货柜换算计算。

⁵ 截至2024年10月31日。

Costamare Inc的财务长Gregory Zikos先生评论说:

「在本年第三季度，公司实现了约8000万美元的净收入。截至季末，流动性超过10亿美元。」

In the containership sector, with idle vessels of less than 1%, the fleet can still be considered as ‘fully employed’. The market is split between the larger sizes which remain in limited supply, and smaller vessels where the availability of tonnage is greater. As the pool of bigger tonnage is unable to meet demand, charter rates continue to evolve at firm levels.

During the quarter we chartered 7 containerships at healthy levels. The new charter agreements are expected to generate incremental contracted revenues of above $165 million.

The containership fleet employment stands at 100% and 94% for 2024 and 2025, respectively. Total contracted revenues amount to $2.3 billion with a remaining time charter duration of 3.3 years.

On the dry bulk side, we progress with our strategy to renew the owned fleet and increase its average size; during the quarter we agreed to acquire two 2014 and 2015 built Ultramax vessels and one 2011-built Capesize ship, while progressing with the disposal of smaller tonnage.

CBI manages a fleet of 56 ships, the majority of which are on index-linked charter-in agreements. We have a long-term commitment to the sector, and we view the vessel-owning and the trading platform as highly complementary activities.

Finally, with regards to Neptune Maritime Leasing, the platform continues to grow with committed funding for 32 shipping assets, reflecting total funding commitments exceeding $410 million on the back of a healthy pipeline.”

Financial Summary

(1) Accrued charter revenue represents the difference between cash received during the period and revenue recognized on a straight-line basis. In the early years of a charter with escalating charter rates, voyage revenue will exceed cash received during the period and during the last years of such charter cash received will exceed revenue recognized on a straight-line basis. The reverse is true for charters with descending rates. 

(2) Total voyage revenue adjusted on a cash basis represents Voyage revenue after adjusting for non-cash “Accrued charter revenue” recorded under charters with escalating or descending charter rates. However, Total voyage revenue adjusted on a cash basis is not a recognized measurement under U.S. GAAP. We believe that the presentation of Total voyage revenue adjusted on a cash basis is useful to investors because it presents the charter revenue for the relevant period based on the then current daily charter rates. The increases or decreases in daily charter rates under our charter party agreements of our fleet are described in the notes to the “Fleet List” tables in Exhibit 99.2.

(3) Adjusted Net Income available to common stockholders and Adjusted Earnings per Share are non-GAAP measures. Refer to the reconciliation of Net Income to Adjusted Net Income and Adjusted Earnings per Share.

Non-GAAP Measures

The Company reports its financial results in accordance with U.S. GAAP. However, management believes that certain non-GAAP financial measures used in managing the business may provide users of these financial measures additional meaningful comparisons between current results and results in prior operating periods. Management believes that these non-GAAP financial measures can provide additional meaningful reflection of underlying trends of the business because they provide a comparison of historical information that excludes certain items that impact the overall comparability. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the Company’s performance. The tables below set out supplemental financial data and corresponding reconciliations to GAAP financial measures for the three-month and the nine-month periods ended September 30, 2024 and 2023. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, voyage revenue or net income as determined in accordance with GAAP. Non-GAAP financial measures include (i) Voyage revenue adjusted on a cash basis (reconciled above), (ii) Adjusted Net Income available to common stockholders and (iii) Adjusted Earnings per Share.

Exhibit I

Reconciliation of Net Income to Adjusted Net Income available to common stockholders and Adjusted Earnings per Share

Adjusted Net Income available to common stockholders and Adjusted Earnings per Share represent Net Income after earnings allocated to preferred stock, deemed dividend of Series E Preferred Stock and Non-Controlling Interest, but before non-cash “Accrued charter revenue” recorded under charters with escalating or descending charter rates, deferred charter-in expense, amortization of time-charter assumed, loss on vessel held for sale, vessel’s impairment loss, realized gain on Euro/USD forward contracts, gain on sale of vessels, net , (gain)/loss on sale of vessels, net, by jointly owned companies with York Capital included in equity gain on investments, non-recurring, non-cash write-off of loan deferred financing costs, general and administrative expenses - non-cash component, (gain)/loss on derivative instruments, excluding realized (gain)/loss on derivative instruments and other non-cash items. “Accrued charter revenue” is attributed to the timing difference between the revenue recognition and the cash collection. However, Adjusted Net Income available to common stockholders and Adjusted Earnings per Share are not recognized measurements under U.S. GAAP. We believe that the presentation of Adjusted Net Income available to common stockholders and Adjusted Earnings per Share are useful to investors because they are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. We also believe that Adjusted Net Income available to common stockholders and Adjusted Earnings per Share are useful in evaluating our ability to service additional debt and make capital expenditures. In addition, we believe that Adjusted Net Income available to common stockholders and Adjusted Earnings per Share are useful in evaluating our operating performance and liquidity position compared to that of other companies in our industry because the calculation of Adjusted Net Income available to common stockholders and Adjusted Earnings per Share generally eliminates the effects of the accounting effects of capital expenditures and acquisitions, certain hedging instruments and other accounting treatments, items which may vary for different companies for reasons unrelated to overall operating performance and liquidity. In evaluating Adjusted Net Income available to common stockholders and Adjusted Earnings per Share, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of Adjusted Net Income available to common stockholders and Adjusted Earnings per Share should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.

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