Highly Diversified Business Model Produces Stable Cash Flows
Company Snapshot
World's largest publicly traded REIT focused on the ownership, operation, development and acquisition of temperature-controlled warehouses
Portfolio Overview
Warehouses
Ownership
Type
Total
Capacity
238
181 owned (¹),
1.4bn cubic feet
/ 46mm square
feet
48 capital/
operating leased, 9
managed
Financial Highlights
$11.4bn Total Enterprise Value (4)
$9.0bn Equity Market Cap (4)
$531.3mn LTM PF Core EBITDA (5)
Average
Facility Size
5.9mm cubic
feet/195K
square feet
$0.84 4020 Annualized Dividend per Share
2.3%/5.6% FY 2020 SS Revenue/NOI Growth Rate (6)
Note: Figures as of December 31, 2020, unless otherwise indicated.
(1)
Includes 14 ground leased assets
(6)
(2)
2020 IARW North American Top 25 List (June 2020), per GCCA website. U.S. only. Capacity from 2020
GCCA Global Cold Storage Capacity Report (August 2020)
(7)
(3)
Figures exclude Agro Merchants Group portfolio
(4)
Based on COLD share price of $35.04 as of February 26, 2021
(8)
(5)
As of December 31, 2020, amount includes eight months of Core EBITDA from the Caspers and AM-C
Warehouse acquisitions, ten months of Core EBITDA from the Halls acquisition, and twelve months of
Countries of
Operation
Estimate of U.S.
Market Share
Number of
Customers
Number of
Pallet Positions
U.S., Ireland, U.K.,
Netherlands, Poland,
Austria, Spain, Portugal,
Australia, New Zealand,
Argentina, Canada, Chile,
Brazil
21% (2)
~2,500 (3)
~4.1mm (3)
FY 2020 Segment Breakdown (7)
Revenue
Warehouse
Contribution / NOI (8)
Warehouse
78%
FY 2020
TOTAL
REVENUE
94%
FY 2020
TOTAL
15%
$1,983mm
Third-Party
Managed
CONTRIBUTION
(NOI)
$551mm
7%
3%
2%
Transportation
Third-Party
Managed
Transportation
Core EBITDA from the Agro acquisition prior to Americold's ownership of the respective acquired entities
Represents share of Revenues and NOI from Global Warehouse Segment; Same store Revenue and NOI
growth rates on a constant currency basis
Excludes quarry business. Revenue and Total Contribution (NOI) does not include properties acquired
from Agro Merchants Group
Segment contribution refers to segment's revenues less segment specific operating expenses (excludes
any depreciation, depletion and amortization, impairment charges and corporate level SG&A).
Contribution for our warehouse segment equates to net operating income ("NOI")
2
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