americOLD Global Market Leadership and Growth Strategy
Historic Same Store Seasonality Trend
Same store metrics show consistent seasonal trends
Key Quarterly Drivers
Quarterly Same Store Revenue (% of Annual) (1)
First/Second Quarter
Timing of Easter moves between Q1 and Q2
■ On average Q1 and Q2 are relatively consistent
Third Quarter
■ The harvest ramp coupled with holiday season
inventory build often drives Q3 revenue growth
Q3 (mid/late summer) is the hottest weather
quarter which negatively impacts NOI due to
increased power expense
Fourth Quarter
■ Peak holiday season drives higher volumes
■ Power expense moderates back to average levels
(1)
Reflects 2019 same store pool shown on a constant currency basis relative to 2018 foreign currency exchange rates
26%
26%
25% 25%
24%
25% 25%
24%
Q1
Q2
Q3
Q4
2018 Revenue
2019 Revenue
Quarterly Same Store NOI (% of Annual) (1)
28%
27%
25% 25%
25%
24%
24%
23%
Q1
Q2
22
Q3
Q4
2018 NOI 2019 NOI
15
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