Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Q1 2011 Earnings Presentation
31 slides from Ultrapetrol (bahamas)'s earnings presentation, May 9, 2011
Slide 1: First Quarter 2011 Results Presentation
ULTRAPETROL (Bahamas) Limited First Quarter 2011 Results Presentation May 9, 2011
Slide 2: Forward-looking statements disclaimer
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. Statements that are predictive in nature, that depend u
Slide 3: Ultrapetrol's 1Q 2011 Highlights
Ultrapetrol’s 1Q 2011 Highlights (1) Includes discontinued operations (2) A reconciliation of Adjusted EBITDA and Adjusted Net Income to US GAAP measures is available on the Appendix to this presentation (3) Provision for Income Tax on foreign currency exchange gains on U.S. dollar denominated debt
Slide 4: Ultrapetrol
ULTRAPETROL
Slide 5: River Business 1Q 2011 Highlights
River Business 1Q 2011 Highlights
Slide 6: Slide 6
Slide 7: Paraguayan Soybean & Brazilian Iron Ore Production Trend & Outlook
Paraguayan Soybean & Brazilian Iron Ore Production Trend & Outlook USDA soy production estimate for 2011: 8.1 million tons (1) Source: USDA Foreign Agricultural Service - Updated May 4, 2011 (2) Industry Sources
Slide 8: Building jumbo-sized barges estimated to be 40% cheaper than alternative
Building jumbo-sized barges estimated to be 40% cheaper than alternative cost of acquiring barges Pro-Forma Static Capacity Potential Growth (1) (Capacity in DWT) (1) Pro-forma static capacity growth is based on the assumption of the production of one dry barge per week. There can be no assurance th
Slide 9: Revenue & EBITDA
Revenue & EBITDA (In § Millions) 200 180 160 120 100 Estimated Pro-Forma EBITDA 185.5 Pro-Forma 2015 "= Revenues "EBITDA
Slide 10: Ultrapetrol Offshore Supply
i \ ULTRAPETROL Offshore Supply §eze
Slide 11: Offshore Supply Business 1Q 2011 Highlights
Offshore Supply Business 1Q 2011 Highlights
Slide 12: Offshore Supply Business 1Q 2011 Overview
Offshore Supply Business 1Q 2011 Overview (1) Company calculations / data - Total revenues divided by number of available ship days (2) Includes income related to delay and loss of hire insurances in 2008 - basis calendar days (3) Excludes time lost of UP Esmeralda and UP Safira in 1Q 2010 due to po
Slide 13: Well positioned to profit from developments in booming Brazilian market
Well positioned to profit from current & future developments in booming brazilian market: $224 Bn CAPEX Source: Petrobras Website (1) O’Keefe Consultancy as of February 17, 2011 (2) PFC Energy (3) Petrobras’ Press Release dated April 29, 2011
Slide 14: Young and hi-spec Offshore Supply Fleet
Fleet under construction Fleet in Operation Young and hi-spec Offshore Supply Fleet Presently uncommitted expected to be placed on long-term charters Operating under long-term charters with Petrobras
Slide 15: Gross Profit Contribution of PSV Fleet - Illustrative TCE
Gross Profit Contribution (1) of PSV Fleet - Illustrative TCE ($/day) ($ in millions) (1) Gross profit contribution calculated as net revenues less voyage expenses (assumed at 6.1% of revenues) and running costs ($11,000 per day) based on historical averages (i.e. vessel EBITDA before overhead expen
Slide 16: Estimated Pro-Forma EBITDA - Offshore Supply Business
Estimated Pro-Forma EBITDA - Offshore Supply Business Estimated Pro-Forma EBITDA Assumptions
Slide 17: Ultrapetrol
ULTRAPETROL
Slide 18: Ocean Business 1Q 2011 Highlights
Ocean Business 1Q 2011 Highlights
Slide 19: Slide 19
Slide 20: TEUs Transported
TEUs Transported Feeder Container Line Monthly Loadings “ 2,203 i i 142 505 081.916 ggg ilil I ys 2,689, 4.851 nas Pyrreen, Ag Fins eras) Ss é
Slide 21: Estimated Pro-Forma EBITDA Assumptions
Estimated Pro-Forma EBITDA Assumptions
Slide 22: Aggregate 2015 Estimated Pro-Forma EBITDA
Note: The estimated pro-forma revenues and EBITDA (Total and per segment) shown in this page are estimated on the basis of assumptions related to future volumes, pricing, availability of employment for our vessels, etc, which are not guaranteed. Real results could vary substantially from these estim
Slide 23: Capital expenditures FY 2011 and FY 2012
ir In thousands of dollars Fy 2011 FY 2012 Total River Business Barge Building/Repowering/Rebottoming 37,510 37,840 75,360 Purchase & Transportation of Pushboats 4,450 : 4,450 Total River Business 41,960 37,840 79,800 Offshore Supply Business 5 PSVs Under Construction 31,678 13,209 44,887 Dry docks
Slide 24: Quarter-on-Quarter Ultrapetrol's Selected Statement of Operation Data
Quarter-on-Quarter Ultrapetrol’s Selected Statement of Operation Data
Slide 25: Quarter-on-Quarter Ultrapetrol's Income Statement
(1) A reconciliation of Adjusted EBITDA to US GAAP measures is available on the Appendix in this presentation Quarter-on-Quarter Ultrapetrol’s Income Statement
Slide 26: Ultrapetrol's Balance Sheet
Ultrapetrol’s Balance Sheet
Slide 27: Yearly Capital Repayments
Yearly Capital Repayments payment of $180.0 million Note in 2014 & $8. dimillign Note in 2017 180 aay 2 soo E300 | 276 oe a) 26.8 25.0 i 208 193 193 § 200 160 8 150 100 68 = oo 2011 2012-2013. «2014-015. -2D16.-2017_-«-2018~—- 2019-2020
Slide 28: Thank You
Thank You Q & A
Slide 29: Cash flow statement
ir (S000) ‘Ai March 34,2041 At March 34, 2040 ‘CASH FLOWS FROW OPERATING ACTITES Net income (r709 s7373 ‘Adjustments to reconcile netincome tone cash provided by operating aces {Loss fom discontinuing operators ois Depreciation of vessels and equiment 8,108 7790 ‘Amorizaon of ry docking 048 750 Expe
Slide 30: Appendix (cont'd)
Appendix (cont’d) Segment operating profit (loss) to Adjusted EBITDA reconciliation
Slide 31: Appendix (cont'd)
Appendix (cont’d) Segment operating profit (loss) to Adjusted EBITDA reconciliation
Ultrapetrol (Bahamas) — Q1 2011 Earnings Presentation on 6ix