Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — FY2015 Earnings Presentation
25 slides from Ultrapetrol (bahamas)'s earnings presentation, Apr 19, 2016
Slide 1: Fourth Quarter & FY 2015 Earnings Call Presentation
/ ULTRAPETROL ’ | (Bahamas) Ltd. _ Fourth Quarter & FY 2015 Earnings-Call- Presentation April 19, 2016
Slide 2: Forward Looking Statements & EBITDA Disclosure
Forward Looking Statements & EBITDA Disclosure Qur disclosure and analysis inthis g our , cash flows and position, in particular, of our success in ‘our include forv 2 re, hat depend upon or wert to future events or conditions, or that include words such as “expects,” anticipates intends, “plane bat
Slide 3: Ultrapetrol 4Q15 vs. 4Q14
Ultrapetrol 4Q 15 vs. 4Q 14 Year ended Yearended (5000's) December31, 2015 _December31, 2014 Diference %Change 4075 4Q14__Diflerence Revenues $347,477 $363,675 (616,198) 4% S71074 $78,505 (87,521) Agjusted EBITDA per segment River Business $16548 $20 16,318 (62,265) (67,156) 4,89 shore Supply Busine
Slide 4: Ultrapetrol (Bahamas) Limited
t/ y= ULTRAPETROL fj (Bahamas) Limited
Slide 5: River Business Market Dynamics
River Business Market Dynamics = Decrease in relevant commodity prices of the River Business resulti transport demand: = 13% drop in soybean prices on average ($371 / TN in 4Q 14 vs. $323 / TN in 4Q 18). 38% drop in iron ore prices on average ($74 / TN in 4Q 14 vs. $46 / TN in 4Q 18). = 22% drop in
Slide 6: River Business Key Performance Indicators
River Business Key Performance Indicators KEY PERFORMANCE INDICATORS INITIATIVE Increase asset utilization Improve transit times Reduce costs per ton transported Streamline operations to increase reliability KPI Revenue (excluding fuel adjustment) / net book value Average barge transit time Total co
Slide 7: Offshore Supply
t/ = 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 ($73 / bbl in 4Q 14 vs. $42 / bbl in 4Q 15, 52% drop). = Petrobras announced further CAPEX reduction of $32.0 billion (or 24%) to the Business and Management Plan for 2015-2019 ($21.
Slide 9: Offshore Supply Business Market Dynamics
Offshore Supply Business Market Dynamics Purobrasistargeling aig count Cof-35 by midZ046, around half ae * ‘of what they had two years ago. nme 95.0% wa 9.000 20.0% \ 8000 36% 7,000 agi 6,000 5544 20.0% = 5.000 75.0% 8 2.000 70.0% 3,000 65.0% — +000 coon a 7 PP PP PP EP FFP SF Sh —U.s. Gull oF Mexic
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 = Reduce costs KPI = Revenue / calendar days = Offhire days / calendar days = Running cost/ calendar days eG: 8: 3Q 15 vs. 3Q 14 Variation 27.1% decr
Slide 11: Ultrapetrol (Bahamas) Limited
Ur ULTRAPETROL 7 (Bahamas) Limited
Slide 12: Ocean Business Update & KPIs
Ocean Business Business Update & KPIs INITIATIVE KPI 4Q 15 vs. 4Q 14 Variation = Protect revenue stream = Revenue / calendar days @ = 36.7% increase revenue per day = Minimize unplanned off- * Offhire days / calendar 8 = 5.1 pp increase offhire hire days days CONTAINER FEEDER SERVICE - KEY PERFORMAN
Slide 13: Balance Sheet
Ultrapetrol Balance Sheet ‘At December 31, At December 31, % (50009 2015 2014 Change ASSETS Cash & Cash Equivalents $45,193, $34,982 29% ‘Accounts Receivables 32,655, 37,341 13% Operating supplies and imventories, 16,947 4,030 321% Restricted cash 10,779 11,246 4% Other Curent Assets 36,986 2.180 67
Slide 14: Thank You Q&A
Thank You Q&A 14
Slide 15: Appendix
Appendix 15
Slide 16: River Business - 4Q vs. 4Q
Appendix River Business - 4Q 15 vs. 4Q 14 FINANCIAL HIGHLIGHTS RIVER Year ended Year ended fais 40k % ($000's) December 31, 2015 December 31, 2014 Change Change Revenues 172,565 175,110 A% 32,246 33,417 3% Voyage and Manufacturing Expenses. (73,946) (0,773) -19% (14,715) (16,881) __-13% Gross Margin
Slide 17: Offshore Supply Business - 4Q vs. 4Q
Appendix (cont'd) Offshore Supply Business - 4Q 15 vs. 4Q 14 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY Year ended December Year ended December pig __% % 8000'3) 31, 2015 31, 2016 Di’ change 4978 4214 DH change Revenues 107,098 119.581 (12,487) 10% 214497 29,506 (8,009) -27% Voyage Expenses 6.078) (6879)
Slide 18: Ocean Business - 4Q vs. 4Q
Appendix (cont'd) Ocean Business - 4Q 15 vs. 4Q 14 FINANCIAL HIGHLIGHTS OCEAN Year ended Year ended % % (5000's) Decomber 31, 2015 December 31, 2014 Pf change _ 4018 414M Change Revenues $67,818 968,984 ($1,168) 2% $17,331 $15,972 $1,359 9% Voyage Expenses (25,848) 21,433) (4415) 21% (7.744) (6.444)
Slide 19: Quarter-on-quarter Selected Statement of Operation Data
Appendix (cont'd) Quarter-on-quarter Selected Statement of Operation Data Year ended Year ended (5000) December 31, 2015 December 31, 2014 * Change ae ‘Revenues ‘Aitrbutable to River Business $172,565 $175,110 1% $22,246 $23,117 ‘Attributable to Ofshore Supply Business $107,094 S119.581 10% $21,497
Slide 20: Quarter-on-quarter Income Statement
Appendix (cont'd) Quarter-on-quarter Income Statement Year ended Year ended (3000's) December 31, 2015 December 31, 2014 _ 4015 4014 Revenues $347,477 $363,675 $71,074 $78,595 Voyage Expenses (104,868) (119,085) (24,184) (25,248) Running Costs (137,232) (148,517) (28,922) (40,178) Depreciation and a
Slide 21: Accumulated Cash Flow and EBITDA Reconciliation
Appendix (cont’d) Accumulated Cash Flow and EBITDA Reconciliation (5000's) dictS___dic-t4 ‘Total cash flows provded by operating activties 37,000 35,254 Total cash flows (used in) investing activities (24,324) (41,645) Total cash flows (used in) from financing activities (2,465) __ (31,252) Total ca
Slide 22: 4Q 2015 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 4Q 15 Operating Profit to Adjusted Consolidated EBITDA Fourth quarter ended December 31, 2015 Poor River Supply ocean TOTAL Segment operating loss) oft (88.875) $1,813 10.071) (817,133) Depreciation and amortization 683 4912 1,083 12.798 Non-Cash Loss on write-down of vessels : ~ 8
Slide 23: 4Q 2014 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) 4Q 14 Operating Profit to Adjusted Consolidated EBITDA Fourth quarter ended December 31, 2014 : Offshore (6000'5) River “Supply __cean__—_TOTAL ‘Segment operating (loss) profit ($15,503) $5,017 ($14,753) ($25,239) Depreciation and amortization 8796 4531 4,908 18,233 Non-cash loss o
Slide 24: FY 2015 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) FY 2015 Operating Profit to Adjusted Consolidated EBITDA Year ended December 31, 2015 Offshore (s000'g River “Supply ocean TOTAL ‘Segment operating (loss) profit ($10,111) $24,486 ($14,593) ($218) Depreciation and amortization 2,715 18,890 4527 51,132 Non-cash loss on write-down of
Slide 25: FY 2014 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont'd) FY 2014 Operating Profit to Adjusted Consolidated EBITDA Year ended December 31, 2014 — River arene Ocean TOTAL Segment operating (loss) prot ($90,046) $28,980 ($12,273) ($13,339) Depreciation and amortization aero 7.118 7.980 83,817, Non-Cash Loss on write-down of vesses ~ 10511 1