Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Q1 2016 Earnings Presentation
23 slides from Ultrapetrol (bahamas)'s earnings presentation, May 13, 2016
Slide 1: Ultrapetrol (Bahamas) Ltd.
ULTRAPETROL (Bahamas) Ltd.
Slide 2: Forward Looking Statements & EBITDA Disclosure
Forward Looking Statements & EBITDA Disclosure ‘Our disclosure and analysis in this presentation concerning our operations, cash flows and financial position, including, in particular, the likelihood of our success in developing and expanding our business, include forward-looking statements. Stateme
Slide 3: 1Q 2016 vs. 1Q 2015
Ultrapetrol 1Q 2016 vs. 1Q 2015 Three months ended Three months ended Difference % Change (8000's) March 31, 2016 March 31, 2018 Revenues $67,097 $84,573 ($17,476) 2% Adjusted EBITDA per segment River Business $6,980 $3,221 3,759 Offshore Supply Business $9,025 $12,556 3,531) Ocean Business $185 $1,
Slide 4: River Business
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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: 11% drop in soybean prices on average ($364 / TN in 1Q 15 vs. $323 / TN in 1Q 16). 24% drop in iron ore prices on average ($62 / TN in 1Q 15 vs. $48 / TN in 1Q 16).
Slide 6: River Business Key Performance Indicators
River Business Key Performance Indicators KEY PERFORMANCE INDICATORS INITIATIVE KPI 4Q 15 vs. 4Q 14 Variation = Increase asset utilization = Revenue (excluding fuel @ = 1.3 pp increase in asset adjustment) / net book utilization value = Improve transit times = Average barge transit time [x] = 5.0% i
Slide 7: Offshore Supply
!/ = 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 ($50/ bbl in 1Q 15 vs. $33/ bbl in 1Q 16, 33% drop). * Contract assignments pending Petrobras BOD approval. * Initial progress on REB rights. = Agreement with Petrobras for our UP Tu
Slide 9: Offshore Supply Business Market Dynamics
Offshore Supply Business Market Dynamics Rig Utilization (*) Petrobras Is targeting a rig count ‘of "35 by mid-2016, around half 100.0% ‘of what they had two years ago. Rig Utilation Rate ? PPP PEELE PEP LL MT South America Europe/Mediterranean Rig Utilization ( Rig Utilation Rate ae Roar Pg PGP PF
Slide 10: Offshore Supply Business Key Performance Indicators
Offshore Supply Business Key Performance Indicators KEY PERFORMANCE INDICATORS INITIATIVE = Protect revenue stream = Minimize unplanned off- hire days = Cost Reduction KPI = Revenue / calendar days = Offhire days / calendar days = Running cost/ calendar days 1Q 16 vs. 1Q 15 Variation [x] = 32.0% dec
Slide 11: Ocean Business
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Slide 12: Ocean Business Update & KPIs
Ocean Business Business Update & KPIs INITIATIVE KPI 1Q 16 vs. 1Q 15 Variation = Protect revenue stream = Revenue / calendar days [x] = 6.4% decrease revenue per day = Minimize unplanned off- "= Offhire days / calendar [x] = 3.9 pp increase offhire hire days days CONTAINER FEEDER SERVICE - KEY PERFO
Slide 13: Balance Sheet
Ultrapetrol Balance Sheet At March 31, 2016 At December 31, % ($0003) (Unaudited) 2015 Change ASSETS Cash & Cash Equivalents $35,430 22% Accounts Receivables 39,621 21% ‘Operating supplies and imentories 20,009 18% Restricted cash 6471 40% ‘Other Current Assets 27,287 4% Vessels and Equipment, Net 6
Slide 14: Thank You
Thank You Q&A
Slide 15: Appendix
Appendix
Slide 16: River Business - 1Q 2016 vs. 1Q 2015
Appendix River Business - 1Q 2016 vs. 1Q 2015 FINANCIAL HIGHLIGHTS RIVI Three monthsended Three monthsended —% (5000's) March 34, 2016 March 31, 2018 Change Revenues 34,181 38,930 12% Voyage and Manufacturing Expenses (11,925) (16,566) -28% Gross Margin 22,266 22,364 0% Running Costs (10,165) (13,90
Slide 17: Offshore Supply Business - 1Q 2016 vs. 1Q 2015
Appendix (cont’d) Offshore Supply Business - 1Q 2016 vs. 1Q 2015 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY — Three monthsended Three monthsended 4 % ($0003) March 31, 2016 March 31, 2016 Change Revenues 20,921 29,6657 (9,238) 31% Voyage Expenses (1,780) (1,649) (131) 8% Running Costs (7,086) (12,374) 5,2
Slide 18: Ocean Business - 1Q 2016 vs. 1Q 2015
Appendix (cont’d) Ocean Business - 1Q 2016 vs. 1Q 2015 Three months Three months na FINANCIAL HIGHLIGHTS OCEAN ended March 31, ended March 31, Diff 2016 2015 Change Revenues $12,595 $16,086 ($3,491) -22% Voyage Expenses 6.447) 021) (426) 8% Running Costs (6,705) 6.123)__2.418 -30% Gross Profit Const
Slide 19: Quarter-on-quarter Selected Statement of Operation Data
Appendix (cont’d) Quarter-on-quarter Selected Statement of Operation Data Three monthsended Three months ended 6000's) March 31, 2016 March 31, 2015 "*OhaNS® Revenues ‘Attributable to River Business. $334,181 $38,990 12% ‘Atributable to Ofshore Supply Business $20,321 29557 31% ‘Attobutable to Ocean
Slide 20: Quarter-on-quarter Income Statement
Appendix (cont’d) Quarter-on-quarter Income Statement Three months ended Three months ended (3000's) March 31, 2016 __March 31, 2015 Revenues. $67,097 $84,573 Voyage Expenses (19,152) (23,236) Running Costs (22,956) (34,398) Depreciation and amortization (12277) (12,503) ‘Administrative and commerci
Slide 21: Accumulated Cash Flow and EBITDA Reconciliation
Appendix (cont’d) Accumulated Cash Flow and EBITDA Reconciliation Three months ended (S000's) “Total cash flows provided by operating activities F Total cash flows (used in) investing activities 2,795 (9,344) ‘Total cash flows (used in) fom financing activities (11,123) (6.245) Total cash flows from
Slide 22: 1Q 2016 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1Q 2016 Operating Profit to Adjusted Consolidated EBITDA First quarter ended March 31, 2016 i Offshore (s000') River “supply Ocean TOTAL ‘Segment operating (loss) profit $426 $4,295 ($746) $3,975 Depreciation and amortization 6.627 4719 931 12,277 Investment in affliates / Net inco
Slide 23: 1Q 2015 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1Q 2015 Operating Profit to Adjusted Consolidated EBITDA First quarter ended March 31, 2015 Offshore (s000') River “supply Ocean TOTAL ‘Segment operating (loss) profit (63,250) $8,080 $3 $4,813 Depreciation and amortization 6,663 4,495 1,345 12,503, Imestment in affiliates / Net ((
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