Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — FY2010 Earnings Presentation
31 slides from Ultrapetrol (bahamas)'s earnings presentation, Mar 15, 2011
Slide 1: Fourth Quarter & FY 2010 Earnings Call Presentation
Fourth Quarter & FY 2010 Earnings Call Presentation March 15, 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 FY 2010 Highlights
Ultrapetrol’s FY 2010 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's 4Q 2010 & Subsequent Events Highlights
Ultrapetrol’s 4Q 2010 & Subsequent Events Highlights
Slide 5: Ultrapetrol
ULTRAPETROL
Slide 6: River Business FY 2010 & 4Q Highlights
River Business FY 2010 & 4Q 10 Highlights
Slide 7: Slide 7
Slide 8: Paraguayan Oilseed Production Trend & Outlook
Paraguayan Oilseed Production Trend & Outlook USDA soy production estimate for 2011: 7.5 million tons (1) Source: USDA Foreign Agricultural Service Paraguayan Seeded Area & Production (1)
Slide 9: Constructing jumbo-sized barges estimated to be 40% cheaper than alternative
Constructing 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 assuranc
Slide 10: Ultrapetrol Offshore Supply
i \ ULTRAPETROL Offshore Supply §eze
Slide 11: Offshore Supply Business FY 2009 & 4Q Highlights
Offshore Supply Business FY 2009 & 4Q 09 Highlights
Slide 12: Offshore Supply Business FY 2010 & 4Q Overview
Offshore Supply Business FY 2010 & 4Q 10 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 Our 7 PSVs are now operating in Brazil for Petrobras on 3-4 year
Slide 13: the beginning of new exploratory model, ane that
ir the beginning of 2 new exploratory model, ane that = will involve the use of technology that is more resistant bath to carrosicn and to high temperatures and pressure ——— — = = —— [pe \ ic \ULPRAPETROL
Slide 14: Well positioned to profit from booming Brazilian market: $224 Bn CAPEX
Well positioned to profit from current & future developments in booming Brazilian market: $224 Bn CAPEX (1) In the Lula (previously Tupi) and Cernambi (previously Iracema) fields, and in the Iara, Guará, and Parque das Baleias blocks alone, the recoverable volume is estimated at between 9 billion an
Slide 15: Offshore Supply Fleet Overview
Fleet under construction Fleet in Operation Offshore Supply Fleet Overview Note: Scheduled deliveries according to shipyards - These delivery dates have been delayed and should therefore not be considered as final
Slide 16: Gross Profit Contribution of PSV Fleet - Illustrative TCE
Gross Profit Contribution (1) of PSV Fleet - Illustrative TCE (US$/day) (1) Gross profit contribution calculated as revenues less voyage expenses (assumed at 9.7% of revenues) and running costs ($11,000 per day) based on historical averages (i.e. vessel EBITDA before overhead expense).
Slide 17: Ultrapetrol
ULTRAPETROL
Slide 18: Ocean Business FY 2010 & 4Q Highlights
Ocean Business FY 2010 & 4Q 10 Highlights
Slide 19: Tanker Fleet and FFA Reclassification Overview
Tanker Fleet and FFA Reclassification Overview
Slide 20: M.V. Asturiano
M.V. Asturiano
Slide 21: Projected CAPEX by business 2011-2012
In thousands of dollars 2011 2012 Total River Business Barge Building/Repowering/Rebottoming 37,510 37,840 75,350 Purchase & Transportation of Pushboats 4,450 - 4,450 Total River Business 41,960 37,840 79,800 Offshore Supply Business 5 PSVs Under Construction 31,678 13,209 44,887 Dry docks 4,800 4,8
Slide 22: Year-on-Year Ultrapetrol's Income Statement
Year-on-Year Ultrapetrol’s Income Statement
Slide 23: Year-on-Year Ultrapetrol's Income Statement
(1) A reconciliation of Adjusted EBITDA to US GAAP measures is available on the Appendix in this presentation Year-on-Year Ultrapetrol’s Income Statement
Slide 24: Ultrapetrol's Balance Sheet
Ultrapetrol’s Balance Sheet
Slide 25: Principal Repayments
Principal Repayments (In$ millions) 48.0 40.0 36.0 30.0 25.0 20.0 15.0 10.0 50 0.0 Yearly Capital Repayments Excluding Repayment of $180.0 million 27. Note in 2014 & $80.0 million Note in 2017 2011 40.7 5 303 Oe 268 208 193 193 l | [ 2012 2013 2014-2015 «2016-2017 2018-2019 2020
Slide 26: Thank You
Thank You Q & A
Slide 27: Adjusted EBITDA definition
(1) Adjusted EBITDA consists of net income (loss) prior to deductions for interest expense and other financial gains and losses related to the financing of the Company, income taxes, depreciation of vessels and equipment and amortization of drydock expense, intangible assets, financial gain (loss) o
Slide 28: Fourth Quarter Ended December 31, 2010
Fourth Quarter Ended December 31,2010 (8000's) River___Offshore Supply Ocean TOTAL ‘Segment operating (loss) profit ($441) $2,703 ($2,321) ($59) Depreciation and amortization 4,646 1,922 2,288 8,856 Investment in affiliates / Net income attributable to non- (102) (123) 2 (223) controlling interest i
Slide 29: Fourth Quarter Ended December 31, 2009
Fourth Quarter Ended December 31,2009 (8000's) jet__Offshore Supply _Ocean_TOTAL ‘Segment operating (loss) (84.279) (81,238) ($22,298) ($27,815) Depreciation and amortization 3,692 1,658 5,749 14,099 Loss on write-down vessels - = 25,000 25,000 Investment in affiliates / Net income (loss) attributab
Slide 30: Year Ended December 31, 2010
Year Ended December 31, 2010 ($000's) River___Offshore Supply Ocean _ TOTAL ‘Segment operating (loss) profit $10,244 $10,611 ($2,137) «$18,718 Depreciation and amortization 17,248 7178 9,945 34,371 Investment in affiliates / Net income attributable to non- (322) (451) (19) (792) controlling interest
Slide 31: Year Ended December 31, 2009
Year Ended December 31, 2009 (3000's) River__ Offshore Supply _Ocean_TOTAL ‘Segment operating (loss) profit ($9,651) $930 ($330) ($9,051) Depreciation and amortization 13,904 5,903 21,945 41,752 Loss on write-down vessels - = 25,000 25,000 Investment in affiliates / Net income (loss) attributable to