Highly Diversified Business Model Produces Stable Cash Flows
Growing Committed Revenue in Warehouse Portfolio
Significant improvement transitioning from as-utilized, on demand contracts to fixed storage committed contracts and leases
■ Fixed storage committed contracts and leases currently
represent:
41% of warehouse rent and storage revenues (1) and
46% of total warehouse segment revenues (2)
Total Warehouse Rent & Storage Revenue
$0.64bn $0.66bn $0.67bn
$0.69bn
$0.61bn $0.61bn $0.62bn
$0.51bn $0.52bn
62%
60%
59%
60%
59%
58%
59%
57%
57%
■ 6-year weighted average stated term (3)
43%
43%
38%
40%
41%
40%
41%
42%
41%
4Q18
2Q19
1Q19
(4)
3Q19
(4)
4Q19 (4)
1Q20
(4)
2Q20 (4)
3Q20 (4) 4Q20 (4)
Other Rent & Storage Revenue
Annualized Committed Rent & Storage Revenue (1)
Total Warehouse Segment Revenue
$1.43bn $1.44bn $1.47bn $1.51bn $1.52bn $1.54bn
$1.64bn
$1.17bn $1.18bn
54%
55%
55%
54%
55%
55%
53%
55%
51%
2-year weighted average remaining term (3)
■ As of December 31, 2020, we had entered into at least
one fixed commitment contract or lease with 22 of our top
25 warehouse customers
■ The scope and breadth of our network positions us to
continue to increase our fixed storage commitments
■ Our recent acquisitions have a lower percentage of fixed
commitment contracts as a percent of rent and storage
revenue. We view this as an opportunity as we bring these
acquisitions onto Americold's commercialization standards
4Q18
45%
49%
45%
45%
46%
45%
45%
47%
46%
1Q19 2Q19 (4) 3Q19 (4) 4Q19 (4)
Other Warehouse Segment Revenue
1Q20 (4) 2Q20 (4)
3Q20 (4)
4Q20 (4)
Note: All figures exclude revenue for properties acquired from Agro Merchants Group.
Warehouse Segment Revenue Generated by Fixed Commitment Contracts or Leases (2)
(1)
(2)
(3)
(4)
Based on the annual committed rent and storage revenues attributable to fixed storage commitment contracts and leases as of December 31, 2020
Based on total warehouse segment revenue generated by contracts with fixed storage commitments and leases for the quarter ended December 31, 2020
Represents weighted average term for contracts featuring fixed storage commitments and leases as of December 31, 2020
10
Figures pro forma for the acquisition of Caspers and AM-C Warehouse, including 4 month of COLD ownership and the 8 months of prior ownership, the acquisition of Halls, including 2 months of COLD ownership
and 10 months of prior ownership
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