Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Q2 2014 Earnings Presentation
27 slides from Ultrapetrol (bahamas)'s earnings presentation, Aug 15, 2014
Slide 1: Second Quarter 2014 Earnings Call Presentation
| ULTRAPETROL (Bahamas) Ltd. Second Quarter 2014 Earnings Gall Presentation August 15, 2014
Slide 2: Forward Looking Statements & EBITDA Disclosure
Forward Looking Statements & EBITDA Disclosure 9 QU, disclosure and analysis in his our . cash flows and osition, in sof our success in developing and ‘our business, inclide for m that are 2 {hat depend upon or refer to future events or Conditions, or that include words such as “expects,” “anticipat
Slide 3: 2Q 2014 & Subsequent Events Highlights
Ultrapetrol 2Q 2014 & Subsequent Events Highlights ‘Six months ended ‘Six months ended % boaa 2013 % (3000's) ‘June 30, 2014 June $0, 2013 Change Change Revenues $185,722 $199,676 “7% $99,379 $121,786 18% Adjusted EBITDA $44,904 $51,291 13% $25,304 $92,680 20% Not (loss) income as reported ($1,987)
Slide 4: Adjusted EBITDA: 2Q 2014 vs. 2Q 2013
Ultrapetrol Adjusted EBITDA: 2Q 2014 vs. 2Q 2013 Adjusted EBITDA per segment _($000's) 2014 2013 Difference _% Change River Business 8,085 20,469 (12,384) 61% Offshore Supply Business 12,471 6,808 5,663 83% Ocean Business 2,185 152 2.083 1338% Total Segment Adjusted EBITDA S227H $27,429 ($4588) 17%
Slide 5: Ultrapetrol (Bahamas) Limited
t/ y= ULTRAPETROL fj (Bahamas) Limited
Slide 6: River Business 2Q 2014 vs. 2Q 2013
River Business 2Q 2014 vs. 2Q 2013 FINANCIAL HIGHLIGHTS RIVER Sixmonths ended Sixmonths ended ___% mia ae (3000's) June 30, 2014 June 30, 2013 Change Change Gross Tons Loaded 4,701,374 2279880 25% «$19,696 1,952,916 32% Net Tons Transported 1,592,579 2,183,432 30% © 980,812 1,347,158 31% Revenues 93
Slide 7: River Business Outlook for 2014 onwards
River Business Outlook for 2014 onwards = Paraguay 2014 crop 8.1 MT * Exports delayed due to fall in prices and operational factors + Maize crop in Paraguay expected to be 3.6 million tons * Large iron ore shipments planned by Vale = Very high river levels may extend into 4Q enabling navigation in t
Slide 8: River Business: Pushboat newbuilding project
River Business Pushboat newbuilding project = Initiative to acquire four state of the art specially designed shallow drafted new pushboats = Average horsepower (HP) per pushboat (approximately): 6,930 HP = Heavy Fuel (IFO 380 CST) consuming engines = Greater transport capacity will enable us to cont
Slide 9: Offshore Supply
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Slide 10: Offshore Supply Business 2Q 2014 vs. 2Q 2013
Offshore Supply Business 2Q 2014 vs. 2Q 2013 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY Sixmonths ended Six months ended pg, % mia zai ..* (8000's) June 30, 2014 June 30, 2013 PVFEFENSE Change Change Revenues 57,078 42447 14,631 34% «= 29,675 20,845 42% Voyage Expenses (2731) (1,931) (800) 41% (1961) (982
Slide 11: Petrobras 2014-2018 Business Plan
Offshore Supply Business Petrobras 2014-2018 Business Plan Investments in Exploration & Production: USS 153.9 billion Lescaiauae monn 87 (79) Era 0.11608) Praicton Developmen, 12S 2014-18 BMP Total Investment US$ 220.6 billion 1x fogretn, Teo, Exploration & Production les 22 10 1529 69.8%) we hs 10,
Slide 12: Recently acquired ex-yard state-of-the-art PSVs
Offshore Supply Business Recently acquired 3 ex-yard state-of-the-art PSVs New developments * UP Opal was successfully awarded a four year employment with Petrobras at a daily charter hire of $31,000 per day * UP Safira was also awarded a four year extension with Petrobras at a rate of $30,000 per d
Slide 13: Long-Term Contractual Employments at Increasing Charter Rates
Offshore Supply Business Long-Term Contractual Employments at Increasing Charter Rates Old Current Contract, ___New Contract ‘Genact wih ese than oneyear [Longe corvoct I) Tendered-avaiing oral avard ‘On-theWaterFleet Rate Expiration Duration | Rate mor | 2018 | 2019 [207] [UP Rubi $ 34000 May-14 dy
Slide 14: Ultrapetrol (Bahamas) Limited
Ur ULTRAPETROL 7 (Bahamas) Limited
Slide 15: Ocean Business 2Q 2014 vs. 2Q 2013
Ocean Business 2Q 2014 vs. 2Q 2013 FINANCIAL HIGHLIGHTS OCEAN Six months ended months ended % (8000's) June 30, 2014 June 30, 2013 __PifeFenc® Change 2014 703 change Revenues $95,349 $34,698 S651 2% $17,686 $17,757 0% Voyage Expenses (10,051) (11,802) 1,751 -15% (6496) (6117) 10% Running Costs (16,2
Slide 16: Coastal Container / Tanker Fleet and Feeder Service Overview
Ocean Business Coastal Container / Tanker Fleet and Feeder Service Overview Four Product / Chemical Tankers Vessel: Amadeo Capacity: 39,670 0WT ‘Type: Double Hull, Product Carrier Vessel: Miranda | Capacity: 7,212 DWT ‘Type: Double Hull, (Chemical Tanker Vessel: Austral”) Capacity: 11,299 OWT ‘Type:
Slide 17: Product Tankers & Feeder Container Trade Evolution
Ocean Business Product Tankers & Feeder Container Trade Evolution Product Tankers * Our Product Tankers remain employed on medium term charters at levels substantially above those prevailing in the international (non cabotage) markets, with positive Gross Profit Contribution Feeder Container Vessels
Slide 18: Quarter-on-quarter Selected Statement of Operation Data
Ultrapetrol Quarter-on-quarter Selected Statement of Operation Data “Six months ended ‘Six months ended (s000's) June 30, 2014 June 30, 2013 Change Para 7018 Revenues ‘Attributable to River Business $93,205 $122,831 249% 352018 $83,184 Attributable to Offshore Supply Business 87.078 42.447 30% 29.97
Slide 19: Quarter-on-quarter Income Statement
Ultrapetrol Quarter-on-quarter Income Statement ‘Six months ended ‘Six months ended (3000's) June 30, 2014 June 30, 2013 a8, 2018 Revenues $185,722 $199,676 $99,379 $121,786 Voyage Expenses (61.264) (75.414) (32,238) (49,407) Running Costs (67,792) (67,620) (96,338) (36,148) Depreciation and amortiz
Slide 20: Balance Sheet
Ultrapetrol Balance Sheet “At June 80, 2074 "At December 31, % (8000's) (Unaudited) 2013, Change ASSETS Cash & Cash Equivalents, $59,705 $72,625 18% ‘Accounts Receivables 49,242 47,836 3% Other Current Assets 52,127 75,243 31% Vessels and Equipment, Net 725,049 715,431 1% Non-current Other Receivabl
Slide 21: Debt Repayment Schedule
Ultrapetrol Debt Repayment Schedule = Balanced yearly principal repayments in the medium term = All of our long term loans are conservatively structured with loan to value ratios that match current vessel market values Yearly Capital Repayments as of June 30, 2014 $226.0 Senior Notes due 2021 Princi
Slide 22: Thank You Q&A
Thank You Q&A
Slide 23: Accumulated Cash Flow and EBITDA reconciliation
Appendix Accumulated Cash Flow and EBITDA reconciliation Six months ended (5000's) Juni Jun Total cash Tlows provided by operating activites 76,764 77,064 Total cash flows (used in) investing activities (13,886) (11,093) Total cash flows (used in) from financing activities (15,798) (90.871) Total ca
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 (8000's) River___Offshore Supply __Ocean__TOTAL. ‘Segment operating profit $1,486 $8,151 $395 $10,032 Depreciation and amortization 6879 4.294 4,770 12,943 Investment in affiliates / Net in
Slide 25: 2Q 2013 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 2Q 2013 Operating Profit to Adjusted Consolidated EBITDA ‘Second quarter ended June 30, 2013 (5000's) River___Offshore Supply __Ocean__TOTAL. ‘Segment operating (loss) profit $14,598 $4236 (81,850) $17,284 Depreciation and amortization 5,881 2,821 4,701 “5,597 Investment in affilia
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 ($000's) River__Offshore Supply _Qcean__TOTAL ‘Segment operating (loss) profit ($5,048) $17,510 $2872 $15,036 Depreciation and amortization 13,035, 8143 3674 24,852 Investment in affiliates / Ne
Slide 27: 1H 2013 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 1H 2013 Operating Profit to Adjusted Consolidated EBITDA Six months ended June 30, 2013, ($000's) River___Offshore Supply __Ocean__TOTAL. ‘Segment operating (loss) profit $10,664 $11,636 ($3,097) $19,203 Depreciation and amortization 44,727 5,395 3,401 4523 Investment in affiliates
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