Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Q2 2015 Earnings Presentation
26 slides from Ultrapetrol (bahamas)'s earnings presentation, Aug 13, 2015
Slide 1: Second Quarter 2015 Earnings Call Presentation
_7_ULTRAPETROL (Bahamas) Ltd. _ Second Quarter 2015 Earnings-Gall Presentation August 13, 2015
Slide 2: Forward Looking Statements & EBITDA Disclosure
Forward Looking Statements & EBITDA Disclosure Qur disclosure and analysis inthis presentation conceming our operations, cash flows and financial position, including, in particular, of ‘our business, include forward-looking statements. Statements that are ‘ature, that deperd upon or reer to future e
Slide 3: Ultrapetrol 2Q 2015 vs. 2Q 2014
Ultrapetrol 2Q 2015 vs. 2Q 2014 ‘Sixmonths ended Sixmonths ended, a geet Mhunes0. 2014 _Diference % Change 2015-2014 _—ifference Revenues $04,573 $96,343 (1,770) Ph -$BASTS $05,943 (81,770) ‘Adjusted EBITDA per segment Fiver Business $9,298 $7301 2,007 $6,177 $8,086 (1,90) Ofshore Supply Business $2
Slide 4: Ultrapetrol (Bahamas) Limited
t/ ULTRAPETROL i 7 (Bahamas) Limited
Slide 5: River Business Market Dynamics
River Business Market Dynamics Decrease in relevant commodity prices of the River Business resulting in decline of transport demand: * 34% drop in soybean prices on average ($540 / TN in 2 14 vs. $355 / TN in 2Q 15). * 44% drop in iron ore prices on average ($103 / TN in 2Q 14 vs. $58 / TN in 2Q 15)
Slide 6: River Business Update & KPIs
River Business Business update & KPIs = Segment currently operating as per our new point-to-point operational model. += Sale of 6 barges in 2Q 2015 - additional sales expected for the remainder of 2015. = Vale Time Charter under take-or-pay basis. * Parané Iron under take-or-pay - 117K tons moved du
Slide 7: Offshore Supply
t/ = ULTRAPETROL {| (Bahamas) Limited Offshore Supply §
Slide 8: Offshore Supply Business Market Dynamics
Offshore Supply Business Market Dynamics * Low crude oil prices put pressure on CAPEX and spot rates in the North Sea ($103/ bbl in 2Q 14 vs. $59/ bbl in 1 15, 43% drop). * Petrobras’ announced a revised $15.1 billion divestment plan for 2015 and 2016. New CAPEX plan of $130.3 billion ($108.6 billio
Slide 9: Offshore Supply Business Update and KPIs
Offshore Supply Business Business update and KPIs * UP Jasper and UP Agate laid-up in the North Sea as of late April 2015 due to depressed rates. * Decrease in EBITDA from UP Jasper and UP Agate mitigated by increases in the utilization of our fleet, by pushing CAPEX forward and better management. *
Slide 10: Ultrapetrol (Bahamas) Limited
t/ 2 ULTRAPETROL 7 (Bahamas) Limited
Slide 11: Ocean Business Update & KPIs
Ocean Business Business update & KPIs Alejandrina re-entered service on May 6, 2015, after its lay up as of September 2014, Amadeo and Miranda I were sold and delivered to buyers on May 29 and July 16, 2015, respectively. Miranda | was replaced by a bareboat chartered vessel (Mentor) servicing a 3 y
Slide 12: Ultrapetrol (Bahamas) Limited
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Slide 13: Organization
Organization Initiatives — Main developments Enhance management systems New corporate culture Accountability, Efficiency Streamline the decision-making process Improve management capabilities and skills at all levels and Customer Service Hired a Commercial Re-launched Code of Defined a new Manage) (
Slide 14: Balance Sheet
Ultrapetrol Balance Sheet ‘At June 30, 2016 ‘At December 31, % ($000's) (Unaudited) 2014 Change ASSETS Cash & Cash Equivalents ‘$29,653 $34,982 15% Accounts Receivables 41,982 37,341 12% Other Current Assets 56,085 (37,426 50% ‘Vessels and Equipment, Net 691,551 717,405, 4% Non-current Other Receiva
Slide 15: Thank You Q&A
Thank You Q&A
Slide 16: Appendix
Appendix
Slide 17: River Business - 2Q 2015 vs. 2Q 2014
Appendix River Business - 2Q 2015 vs. 2Q 2014 FINANCIAL HIGHLIGHTS RIVER Six months ended Six months ended % Pe ae ($000) June 30, 2015 June 30, 2014 Change Change Revenues 91,968 93,296 % 53,038 52,019 2% Voyage and Manufacturing Expenses (40,767) (48,482) 16% (24,201) (24,781) __-2% ‘Gross Margin
Slide 18: Offshore Supply Business - 2Q 2015 vs. 2Q 2014
Appendix (cont'd) Offshore Supply Business - 2Q 2015 vs. 2Q 2014 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY Six months ended _Six months ended % % ($000's) June 30, 2015 June 30, 2014 Di change 7218 2014 DM Change Revenues 66,400 67077 (677) 1% = 28,843. 29,674 (2,831) -10% Voyage Expenses 1,749) @731) 98
Slide 19: Ocean Business - 2Q 2015 vs. 2Q 2014
Appendix (cont'd) Ocean Business - 2Q 2015 vs. 2Q 2014 FINANCIAL HIGHLIGHTS OCEAN Sixmonths ended Sixmonths ended py, % % ($000's) June 30, 2015 June 30, 2014 PM change 7078 7044 change Revenues $32,298 $35,949 ($9,050) -8% $16,213 $17,686 ($1,473) -8% Voyage Expenses (11,298) (10,051) (1,247) 12% 6
Slide 20: Quarter-on-quarter Selected Statement of Operation Data
Appendix (cont'd) Quarter-on-quarter Selected Statement of Operation Data ‘Six months ended Sk months ended 3000) June 30, 2015, June 30, 204% Change is Revenues ‘Attibutabe to River Business $91,968 $03298 1% ssjoss $52.019 ‘Atvbutablo to Cifshore Supply Business 356,400 $57,077 1% s2ge4s $29,674 “
Slide 21: Quarter-on-quarter Income Statement
Appendix (cont'd) Quarter-on-quarter Income Statement Six months ended Six months ended (8000's) June 30, 2016 June 30, 2014 aiRnlibs Rovenues $180,867 $185,722 $96,094 $99,379 Voyage Expenses 63814, (61.264) (90,578) (82.238) Running Costs (72.178) (67,792) (87,780) (36,338) Depreciation and amorti
Slide 22: Accumulated Cash Flow and EBITDA reconciliation
Appendix (cont'd) Accumulated Cash Flow and EBITDA reconciliation ‘Six months ended (s000's) jun-tS___jun-14 “Total cash flows provided by operating activites 11,500 ‘16,764 ‘Total cash flows (used in) investing activities (19,428) (13,886) Total cash flows (used in) from financing activites 22.599
Slide 23: 2Q 2015 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 2Q 2015 Operating Profit to Adjusted Consolidated EBITDA ‘Second quarter ended June 30, 2015 Offshore s000%) River “Supply Ocean TOTAL ‘Segment operating (loss) profit ($858) $8,734 ($2,621) Depreciation and amortization 7,051 4702 4,108 Investment in affifates / Net income (loss)
Slide 24: 2Q 2014 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 2Q 2014 Operating Profit to Adjusted Consolidated EBITDA ‘Second quarter ended June 30, 2014 Offshore joey River “Sippy 68a TOTAL ‘Segirent operating oss) profit $1,487 $8,150 $995 $10,032 Depreciation and amortization 6873 4284 1,70 243 Investment in affiates / Net (bss) atributab
Slide 25: 1H 2015 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 1H 2015 Operating Profit to Adjusted Consolidated EBITDA ‘Six months ended June 30, 2015 (50008) River “Supply _ocean—_TOTAL ‘Segment operating (loss) profit ($3,808) $14,794 ($2,618) $8,368 Depreciation and amortization 13,714 9,197 2,453 25,364 Investment in affiliates / Net inco
Slide 26: 1H 2014 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 1H 2014 Operating Profit to Adjusted Consolidated EBITDA ‘Six months ended June 30, 2014 Offshore vaonasy River Wieneve Ocean TOTAL ‘Segment operating (loss) profit ($5,045) ‘$17,509 $2,572 $15,036 Depreciation and amortization 13035 «8143, «3.674 24,852 Investment in affiliates /
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