Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Q2 2016 Earnings Presentation
25 slides from Ultrapetrol (bahamas)'s earnings presentation, Aug 26, 2016
Slide 1: Ultrapetrol (Bahamas) Ltd.
i 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: Ultrapetrol 2Q 2016 vs. 2Q 2015
Ultrapetrol 2Q 2016 vs. 2Q 2015 Six monthsended Six months ended (s000'9 “lune 30, 206. June 30, 2016 Difference %Change 2Q16 216 Difference _%Change Revenues $140,777 $180,667 ($39,880) 22% $73,680 $96,094 ($22,414) 23% ‘Adjusted EBITDA per segment River Business $13,396 $9,398 3,998 43% $6,416 $6,
Slide 4: River Business
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Slide 5: River Business Market Dynamics
River Business Market Dynamics Low commodity prices and barge oversupply in the Hidrovia continue to weigh on transport demand, partially offset by a considerable recovery for Soybean prices during 2Q 2016: * 9% increase in soybean prices on average ($355/ TN in 2Q 15 vs. $388 / TN in 2Q 16). = 5% d
Slide 6: River Business Key Performance Indicators
River Business Key Performance Indicators KEY PERFORMANCE INDICATORS INITIATIVE KPI 2Q 16 vs. 2Q 15 Variation = Increase asset utilization = Revenue (excluding fuel @ = 1.6 pp increase in asset adjustment) / net book utilization value = Improve transit times = Average barge transit time @ = 8.7% dec
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 ($59/ bbl in 2Q 15 vs. $46/ bbl in 2Q 16, 22% drop). * Contract assignments pending Petrobras BOD approval. * Initial progress on REB rights. * One year contract extensions for our U
Slide 9: Offshore Supply Business Market Dynamics
Offshore Supply Business Market Dynamics %Rig Utilization North Sea Average Spot Rates - PSVs>900m’ as 80 07/15 09/15 11/15 01/16 03/16 05/16 07/16 4,000 — uss. Gulf of Mexico ° — south america — Europe/mediterranean Sea 4101% 7.438 > r 3.602 202015, 2a206 %Rig Utilization Unemployed PSVs - World Co
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 8: 8: 2Q 16 vs. 2Q 15 Variation 18.1% decrease
Slide 11: Ocean Business
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Slide 12: Ocean Business Update & KPIs
Ocean Business Business Update & KPIs INITIATIVE KPI 2Q 16 vs. 2Q 15 Variation = Protect revenue stream = Revenue / calendar days @ = 2.9% increase revenue per day = Minimize unplanned off- "= Offhire days / calendar @* 5.0 pp decrease offhire hire days days CONTAINER FEEDER SERVICE - KEY PERFORMANC
Slide 13: Balance Sheet
Ultrapetrol Balance Sheet At June 20, 2016 At December 31, % ($0003) (Unaudited) 2015 Change ASSETS Cash & Cash Equivalents $45,595 1% Accounts Receivables 35,381 8% ‘Operating supplies and imentories 14,952 12% Restricted cash 6471 40% ‘Other Current Assets 27,381 5% Vessels and Equipment, Net 671,
Slide 14: Thank You
Thank You Q&A
Slide 15: Appendix
Appendix
Slide 16: River Business - 2Q 2016 vs. 2Q 2015
Appendix River Business - 2Q 2016 vs. 2Q 2015 FINANCIAL HIGHLIGHTS RIVER Six months ended Six months ended % % (9000's) June 30, 2016 June 90, 2018 change 7287818 OM change Revenues 73,364 91,968 (18,604) 20% ©» 99,183 53,038 (13,855) 26% Voyage and Manufacturing Expenses 23,931) (40,767) 16,836 ___
Slide 17: Offshore Supply Business - 2Q 2016 vs. 2Q 2015
Appendix (cont’d) Offshore Supply Business - 2Q 2016 vs. 2Q 2015 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY Six monthsended _Six months ended % % ? ‘June 30, 2016 June 30, 2016 Diff change 7218 7018 Di Change Revenues 42,300 66,400 (14,100) -26% 21,978 26,843 (4,864) -18% Voyage Expenses 8.630) (1,749) (1
Slide 18: Ocean Business - 2Q 2016 vs. 2Q 2015
Appendix (cont’d) Ocean Business - 2Q 2016 vs. 2Q 2015 Six monthsended Six monthsended % . % FINANCIAL HIGHLIGHTS OCEAN nein 206 Yune 30, 206” hangs «= 7078-2016 ($000's) Revenues $26,113 $32,299 ($7,186) 22% $12,618 $16,213 ($3,695) 23% Voyage Expenses (11,389) (11,298) @1) 1% = 942) 277) 85 SH Run
Slide 19: Quarter-on-Quarter Selected Statement of Operation Data
Appendix (cont’d) Quarter-on-Quarter Selected Statement of Operation Data Three months ended Three months ended 0009) June 20, 2016 June 30, 2015 __“*Change zag 208 Revenues ‘Attibutable to River Business. $73,364 $01,968 20% ‘Attributable to Ofshore Supply Business $42,200 $56,400 25% ‘Atabutable t
Slide 20: 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, 2015 Oe eae Revenues $140,777 $180,667 $73,680 $96,094 Voyage Expenses (38,950) 3814) (19,798) (30.578) Running Costs (48.914) (72,178) (25,958) (37,780) Depreciation and amorti
Slide 21: Accumulated Cash Flow and EBITDA Reconciliation
Appendix (cont’d) Accumulated Cash Flow and EBITDA Reconciliation Six months ended ($000's) jun-16 jun-15 Total cash flows provided by operating activities 16,797 8,932 Total cash flows (used in) investing activities, (4,013) (16,860) Total cash flows (used in) provided by from financing activities
Slide 22: 2Q 2016 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 2Q 2016 Operating Profit to Adjusted Consolidated EBITDA Second quarter ended June 30, 2016 i Offshore (s000') River “supply Ocean TOTAL ‘Segment operating (loss) profit ($51) $2,180 ($1,454) $675 Depreciation and amortization 6,606 4,818 1,040 12,464 Investment in affliates / Net
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 (50009) River “Supply Ocean TOTAL ‘Segment operating (loss) profit ($558) $6,734 ($2,621) $3,555 Depreciation and amortization 7,051 4,702 4,108 12,861 Investment in affliates / Net
Slide 24: 1H 2016 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1H 2016 Operating Profit to Adjusted Consolidated EBITDA (s000's) ‘Six months ended June 30, 2016 Onshore Ocean TOTAL ‘Segment operating (loss) profit $375 $6,475 ($2,200) $4,650 Depreciation and amortization 13,233 9,537 1,971 24,744 Investment in affliates / Net income (loss) att
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 Offshore (50009) River “Supply 008" _—CTOTAL ‘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 / N
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