Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Q3 2014 Earnings Presentation
24 slides from Ultrapetrol (bahamas)'s earnings presentation, Nov 13, 2014
Slide 1: Third Quarter 2014 Earnings Call Presentation
ULTRAPETROL (Bahamas) Ltd. Third Quarter 2014 Earnings Call Presentation November 13, 2014
Slide 2: Forward Looking Statements & EBITDA Disclosure
Forward Looking Statements & EBITDA Disclosure isclosure and analysis in this presentation concerning our operations, cash flows and financial position, including, in particular, ikelihood of our success in developing and expanding our business, include forward-looking statements, Statements that ar
Slide 3: Summary Overview — Key Figures
Ultrapetrol Summary Overview — Key Figures Nine months ended Nine months ended (so00’s) September 30, 2014 _ September 30, 2013. Change __°0'4 ane Change Revenues $285,080 $312,262 He $99,358 $112,586 12% Adjusted EBITDA "! 58,724 $82,102 28% 13,730 $30,211 5% Net (loss) income as reported ($16,580)
Slide 4: Adjusted EBITDA by segment - 3Q 2014 vs. 3Q 2013
Ultrapetrol Adjusted EBITDA by segment - 3Q 2014 vs. 3Q 2013 Adjusted EBITDA persegment ($000's) 3044 3013 Difference __% Change River Business (4) 11421 (11,425) Offshore Supply Business: 13,320 12.651 669 5% Ocean Business 2.182 659 1,493 226% Total Seqment Adjusted EBITDA $15,468, S24 731 (53.263
Slide 5: FY 2014 Guidance
Ultrapetrol FY 2014 Guidance The Company expects its full year 2014 Adjusted EBITDA to be between $66 and $74 million $74.0 $66.0 $58.7 9 month 2014 Adjusted EBITDA FY 2014 (P) FY 2014 (P) low end of range upper end of range Disclaimer: This guidance represents an estimate subject to risks and uncer
Slide 6: River Business Outlook for 2015
River Business Outlook for 2015 Paraguay Seeded Area & Production “) USDA estimate for 2015 crop 2004-2014 CAGR: 7.6% || 2005-2015 CAGR: 7.3% Seeded Area = Production 2001 2002-2003 «2004 «2005 «2006 «2007 ©2008 -« 2009-2010 2011 2012 «2013-2014 2018 (P) Wr (i)__ Source:USDA Foreign Agricultural Ser
Slide 7: Punta Alvear Shipyard future opportunities
River Business Punta Alvear Shipyard future opportunities... Tank Barge Attriti Attrition 52% 263 146 S57 105 —_ 2 EJ 2013 Hidrovia Tank Fleet Less than 20 years More than 20 years More than 30 years 5-year projection (1) (2) * According to new legislation in Paraguay in principle, as of January 1,
Slide 8: Offshore Supply Business Long-Term Contractual Employments
Offshore Supply Business Long-Term Contractual Employments old/ Curent Contract |New contract ([[carcumenen one: UD cawaaws [tase anigonines] OnatheWalerFied Rate Expiration Duration Rate [407014 | 7015 | vie | 2017 | 2018 [| 2019 | 20 | 2004 lUP Rubi $ 35,380 © May-18 LZ luP Peat $ 22950 Nov-17 LZ
Slide 9: Consolidated Proforma Adjusted EBITDA
Ultrapetrol Consolidated Proforma Adjusted EBITDA Consolidated Proforma Adjusted EBITDARun Rate (in $ millions) $131.3 $75.0 $113 $45.0 River Business Proforma Offshore Supply Business. Ocean Business Proforma Total Proforma Consolidated Proforma of $131.3 million Disclaimer: This proforma should no
Slide 10: Balance Sheet
Ultrapetrol Balance Sheet ‘At September 30, ‘At December 31, % ($000'5 2014 (Unaudited) 2013 Change ASSETS Cash & Cash Equivalents $50,070 $72,625 “31% Accounts Recewables 48,900 47.838 2% Other Current Assets 50.675 75,243 -33% Vessels and Equioment. Net 728.031 715,431 2% Non-current Other Receiva
Slide 11: 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 September 30, 2014 $225.0 Senior Notes due 2021 u
Slide 12: Thank You
Thank You Q&A VA 12
Slide 13: Uhr
Appendix Uhr ®
Slide 14: River Business - 3Q 2014 vs. 3Q 2013
Appendix River Business - 3Q 2014 vs. 3Q 2013 FINANCIAL HIGHLIGHTS RIVER Nine months ended months ended % 3014 3013 % (s000's) September 30, 2014 September 30, 2013__Change_ Change Gross Tons Loaded 2,572,067 3,589,125 28% 870,695 1,309,245 33% Net Tons Transported 2,846 425 3,408,986 28% 913,846 1,
Slide 15: Offshore Supply Business - 3Q 2014 vs. 3Q 2013
Appendix (cont'd) Offshore Supply Business - 3Q 2014 vs. 3Q 2013 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY Nine months ended Nine months ended % ao® (6000's September 30, September 30,_ Mf Chango, _ 3214 3013 Change Revenues 90.075 67.610 22465 33% «32997 254637834 31% \Vovee Exoenses (4.986) (2881) (207
Slide 16: Offshore Supply Business - New developments
Appendix (cont'd) Offshore Supply Business - New developments + UP Safira commenced during October its recently awarded four year extension with Petrobras at a rate of $30,000 per day and our UP Opal is expected to be positioned to Brazil to commence its new contract. = Petrobras pre-awarded our UP
Slide 17: Ocean Business - 3Q 2014 vs. 3Q 2013
Appendix (cont'd) Ocean Business - 3Q 2014 vs. 3Q 2013 FINANCIAL HIGHLIGHT S OCEAN Nine months ended Nine months ended py, % % (5000's) September 30, 2014 September30, 2013 change 2214 3013 change Revenues $53,012 853405 ($393) 1% = S$17.663 $18,707 (81,044) 6% Voyage Expenses (14,989) (17973) 2986
Slide 18: Quarter-on-quarter Selected Statement of Operation Data
Appendix (cont'd) Quarter-on-quarter Selected Statement of Operation Data Tine months ended Nine months ended ($000's) September 30, 2014 September 30, 2013" Change Re Revenues Atributable to River Business $141,993, 8191247 -26% 49698 $68,716 Attributable to Offshore Suppl Business 90.075 67.810 33
Slide 19: Quarter-on-quarter Income Statement
Appendix (cont'd) Quarter-on-quarter Income Statement Tine months ended Nine months ended (S000) September30, 2014 September 30, 2013 S04 3018 Revenues $235,080 $312,282 $99,368. $112,586 Voyage Expenses (23.837) (117,310) (2.573) (41,896) Running Costs (108,339) (104993) 40.547) 7373) Depreciation
Slide 20: Accumulated Cash Flow and EBITDA reconciliation
Appendix (cont'd) Accumulated Cash Flow and EBITDA reconciliation Nine months ended ($0009) Sep-14_ Sep-13 Total cash flows provided by operating acivties, 21 14s 19.088 Total cash flows (used in) investing activities (28.950) (14.719) Total cash flows (used in) from financing activities (20749) (10
Slide 21: 3Q 2014 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 3Q 2014 Operating Profit to Adjusted Consolidated EBITDA Third quarter ended September 30, 2014 (5000's) River__Offshore Supply _Ocean__ TOTAL ‘Segment operating (loss) profit (s9.497) 96.453 (92) ($3,136) Depreciation and amortization 7,088 4444 1,800 13,332 Investment in affiliat
Slide 22: 3Q 2013 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 3Q 2013 Operating Profit to Adjusted Consolidated EBITDA Third quarter ended September 30, 2013, (5000's) River Offshore Supply _Ocean__ TOTAL ‘Seqment operating (loss) profit $5,453 $9663 ($1,087) $14,029 Depreciation and amortization 5.953 2.998 4,705 10.653 Investment in affilia
Slide 23: 9m 2014 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 9m 2014 Operating Profit to Adjusted Consolidated EBITDA Nine months ended September 30, 2014 (5000's) River___Offshore Supply _Ocean__ TOTAL ‘Segment operating (loss) profit ($14,543) $23,963 $2480 $11,900 Depreciation and amortization 20,123 12.587 5.474 38,184 Investment in affi
Slide 24: 9m 2013 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 9m 2013 Operating Profit to Adjusted Consolidated EBITDA Nine months ended September 30, 2013 (5000's) River__Offshore Supply _Qcean__TOTAL ‘Segment operating (loss) profit $16,117 $21,299 (84.184) $33,232 Depreciation and amortization 17.680 8.390 5.106 31.176 Investment in affili