Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Q2 2013 Earnings Presentation
29 slides from Ultrapetrol (bahamas)'s earnings presentation, Aug 14, 2013
Slide 1: Ultrapetrol (Bahamas) Ltd. Second Quarter 2013 Earnings Call Presentation
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. Statemen
Slide 3: 2Q 2013 & Subsequent Events Highlights
Ultrapetrol 2Q 2013 & Subsequent Events Highlights ‘Six Months ended ‘Six Months ended % % 6000's) June 30,2043 June 30,2012 change, _208 702 _change Revenues $199,676 $144,035 30% «$121,786 S79497 53% ‘Adjusted EBITDA 951,801 S161 21% $32,690 $9,850 247% Net income (loss) as reported $7,632 (519,24
Slide 4: 2Q 2013 Adjusted EBITDA vs. 2Q 2012
Ultrapetrol 2Q 2013 Adjusted EBITDA vs. 2Q 2012 = Our River Business Adjusted EBITDA for 2Q 13 increased $15.1 million when compared to 2Q 12 mainly as a result of the 13% increase in net tons transported, the rate increases on some of our contracts, and the normal rainfall and river levels prevaili
Slide 5: Ultrapetrol (Bahamas) Limited
f=] ULTRAPETROL if] (Bahamas) Limited
Slide 6: River Business 2Q 2013 vs. 2Q 2012
River Business 2Q 2013 vs. 2Q 2012 FINANCIAL HIGHLIGHTS RIVER Sixmonths ended Sixmonthsended _-% 2ais 2a % ($000's) June 30, 2013 June 30, 2012 Change Change Net Tons Transported 2,183,431 1,774,045 23% 1,347,156 1,490,017 13% Revenues $122,531 $71,128 12% $83,184 $41,744 99% Voyage and Manufacturin
Slide 7: River Business: Healthy Conditions for 2013 - Soybean and River Levels
River Business Healthy Conditions for 2013 - Soybean and River Levels Paraguay Crop 4 n85s804 iron. Paraguayan Seeded Area & Production oa 30 Production USDA August 10-year CAG 2013 Estimate o = 60 Million Hectares &Tons. 2003 = 2004. «2005 2008 «S2007_-S 2008S 2009/2010 2011 2012 2013 River Levels
Slide 8: River Business: Healthy Conditions for 2013 - Iron Ore
River Business Healthy Conditions for 2013 - Iron Ore Iron Ore Production — Corumba Region (Brazil) 9 eg 8 a7 Be = Annualized E4 production for 83 Vale and halted production for 3? MMX as of June a1 30, 2013, o 2003 ©2004-2005 2008 «= 2007-2008) 2009S 2010-2011 2012-2013 (P) Monthly Iron Ore Prices
Slide 9: Leverage Leading Position in River to Capitalize on Opportunities
River Business Leverage Leading Position in River to Capitalize on Opportunities ULTR River Business Fleet (Barges Only) # of Vessels Commenced activity 750 (one shift) of Punta Alvear barge manufacturing yard ‘aa z ae + 647 650 | Acquired remaining 50% interest in UABL from American Commercial Line
Slide 10: Punta Alvear Yard - Vertically Integrated Barge Manufacturing
River Business Punta Alvear Yard - Vertically Integrated Barge Manufacturing (Sin millions) 5205, $137 $6.4 2011 2012 PF 2013.(1) #of barges: 20 37 58 = The Company’s barge building facility at Punta Alvear, Rosario, Argentina is the most modern of its kind in South America = Allows the Company to e
Slide 11: River Business Key Initiatives
River Business Key Initiatives sol dnashpent Pos Barge Manufacturing Yar Initiative to change pushboat ‘engines from diesel to heavy fuel = Substantial savings in fuel expense and an increase in tow size and navigation speed Six heavy fuel-consuming pushboats now in operation (compared to four a yea
Slide 12: Offshore Supply
t/ =? ULTRAPETROL J (Bahamas) Limited Offshore Supply
Slide 13: Offshore Supply Business 2Q 2013 vs. 2Q 2012
Offshore Supply Business 2Q 2013 vs. 2Q 2012 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY ‘Six months ended _Six months ended % % (8000's) June 30, 2013, dune 30,2012 Change 20132012 change Revenues 42,447 36,170 21% 20,845 18,142 18% Voyage Expenses (1,931) (2,048) 6% (982) (633) 18% Running Costs (18,652)
Slide 14: Petrobras' Business and Management Plan 2013-2017 Approved
Offshore Supply Business Petrobras’ Business and Management Plan 2013-2017 Approved Petrobras New Discoveries (") Rio de Janeiro, August 7th, 2013 - Petréleo Bra: Petrobras announces it has confirmed the presence of oil in well 3-SPS-101 (3-BRSA-1179-SPS), in the Carioca Discovery Evaluation Plan ar
Slide 15: 4,500 Class PSV Operating in the Brazilian Market
Offshore Supply Business 4,500 Class PSV Operating in the Brazilian Market 47 Vessels PSV Fleet Operators Bram /Alfanave BUP Offshore () imWiison Sons mAstromaritima Maersk ‘Acamin = Farstad 'S. Miguel ‘Superpesa Infomation contained in Syndama and A December 2012 betty pratima and crested soe al of
Slide 16: Contractual Employment at Increasing Charter Rates
Offshore Supply Business Contractual Employment at Increasing Charter Rates [[m current contract I NewContract Bi Under Construction | Old Contract New Contract On-the-Water Fleet Rate Expiration _ Duration Rate | 2013 | 2014 | 2015 | 2016 | 2017 UP Agua-Marinha $ 28,000 May-13 4years $35,380 o|" To
Slide 17: Ocean Business
= ULTRAPETROL (Bahamas) Limited i
Slide 18: Ocean Business 2Q 2013 vs. 2Q 2012
Ocean Business 2Q 2013 vs. 2Q 2012 FINANCIAL HIGHLIGHTS OCEAN Six months ended Six months ended (8000's) Sune 80. 2018 hune30, 2012, Change 2013 2Q12 — %Change Revenues $34,698 $37,737 8% $17,787 $19,611 9% Voyage Expenses (11,802) (14,807) 19% 6.117) (637) 8% Running Costs (18,522) (16.988) 9% (6.9
Slide 19: Product Tankers & Feeder Container Trade Evolution
Ocean Business Product Tankers & Feeder Container Trade Evolution Product Tankers = Our Product Tankers remain employed on medium term charters at levels substantially above those prevailing in the international (non cabotage) markets, with positive Gross Profit Contribution = We have recently exten
Slide 20: Quarter-on-quarter Selected Statement of Operation Data
Ultrapetrol Quarter-on-quarter Selected Statement of Operation Data ‘Sixmonihs ended Sh monthe ended (e000) ry More se aera _% Change 2013 2012 % Change Revenues ‘Attributable to River Business s122531 $71,128 72% seateq— san.744 99% ‘Attbutabie to Offshore Supply Business 42.487 35.170 21% 20845 18
Slide 21: Quarter-on-quarter Income Statement
Ultrapetrol Quarter-on-quarter Income Statement ‘Sixmonths ended _ Sixmonths ended mats 2012 (8000's) June 30, 2013 June 30, 2012 Revenues $199,676 $144,035 $121,786 $79,497 Voyage Expenses (75,414) (66,505) (49,407) (28,421) Running Costs (67.620) 68,485) (96,148) (30,463) Depreciation and amortiza
Slide 22: Balance Sheet
Ultrapetrol Balance Sheet ‘At June 30, 2013 At December 31, % (8000's) (Unau 2012 Change ASSETS Cash & Cash Equivalents $131,315 $222,215 41% Restricted cash to redeem 2014 Senior Notes 182,115 O Accounts Receivables 46,954 36,487 29% Other Current Assets 60,324 O Vessels and Equipment, Net 641,109
Slide 23: Debt Repayment Schedule
Ultrapetrol Debt Repayment Schedule * On July 10, 2013, we redeemed all $180.0 million of our then outstanding 9% First Preferred Ship Mortgage Notes due 2014 with the proceeds of the sale of $200.0 million in aggregate principal amount of our 8.875% First Preferred Ship Mortgage Notes due 2021 (whi
Slide 24: Thank You - Q&A
Thank You Q&A UA 24
Slide 25: Accumulated Cash Flow and EBITDA reconciliation
Appendix Accumulated Cash Flow and EBITDA reconciliation (s000's) ‘Six months ended Jung Jun-12 Total cash flows provided by operating activites T1174 G25 Total cash flows (used in) investing activities (11,203) 21,952) Total cash flows (used in) from financing activities (90'871) 9.280 Total cash f
Slide 26: 2Q 2013 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 2Q 2013 Operating Profit to Adjusted Consolidated EBITDA Second quarter ended June 30, 2013 (8000's) River__Offshore Supply _Ocean__ TOTAL ‘Segment operating profit (loss) $14,598 $4,236 ($1,550) $17,284 Depreciation and amortization 5,881 2,821 1,701 10,403 Investment in afflates
Slide 27: 2Q 2012 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 2Q 2012 Operating Profit to Adjusted Consolidated EBITDA Second quarter ended June 30, 2012 (8000's) River__Offshore Supply __Ocean__ TOTAL. ‘Segment operating profit (loss) $369 $4,486 ($1,467) $3,388 Depreciation and amortization 5,359 2,664 2.536 10,559 in affiliates / Net (loss
Slide 28: 1H 2013 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1H 2013 Operating Profit to Adjusted Consolidated EBITDA Six months ended June 30, 2013 (000's) River___Offshore Supply _Ocean_TOTAL ‘Segment operating profit (loss) $10,664 $11,636 ($3,097) $19,203 Depreciation and amortization 14,727 5,395 3,401 20,523 Investment in affiliates /
Slide 29: 1H 2012 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1H 2012 Operating Profit to Adjusted Consolidated EBITDA Six months ended June 30, 2012 (8000's) River___ Offshore Supply __ Ocean TOTAL ‘Segment operating (loss) profit (65,157) $8,524 ($4,062) ($695) Depreciation and amortization 10,76 5,233 5,042 21,051 in affiiates / Net (loss)
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