2021 Financial Guidance slide image

2021 Financial Guidance

Meaningful Enhancement of Financial Position Strong leverage and liquidity supported by ~$11.0bn¹ in gross contracted cash flow 31-Mar-17 31-Dec-20 Cash² Liquidity Improvements Revolver³ $296mn $304mn + $8mn $160mn $500mn + $340mn Unencumbered Assets4 4 vessels / $22mn 31 vessels / $1.1bn + $1,078mn Balance Sheet Improvements Debt / Assets5 0.6x 0.5x -0.1x Net Debt/Equity5 1.7x 1.2x 1 − 0.5x Revenue (LTM)6 $864mn $1,421mn + $557mn Financial Performance Cash Flow from Operations (LTM)6 $310mn $694mn + $384mn Seaspan Asset Utilization 91.6% 99.6% + 8.0% Operational Improvements APR Asset Utilization 30.0% 61.8% + 31.8% 1. As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on December 7, 2020, February 8 and 12, and March 4 and 8, 2021, and 2 secondhand vessel acquisitions announced March 2, 2021. Gross contracted cash flow includes $4.2 billion of lease payments receivable from operating leases, $0.9 billion of minimum lease receivable from finance leases, as well as $5.9 billion lease payments to be received from undelivered vessels. Includes cash flows expected from signed charter agreements on undelivered vessels, excluding purchase options, extension options, higher charter rate options and profit-sharing components 2. Includes cash and cash equivalents 3. Total committed revolving credit facility capacity 4. Values using net book value as of period specified (March 31, 2017 and December 31, 2020, respectively) 5. Refer to slide 2 for definitions of non-GAAP metrics 6. As of December 31, 2020 A 10
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