Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Q1 2013 Earnings Presentation
24 slides from Ultrapetrol (bahamas)'s earnings presentation, May 9, 2013
Slide 1: Ultrapetrol (Bahamas) Ltd. First 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: 1Q 2013 & Subsequent Events Highlights
Ultrapetrol 1Q 2013 & Subsequent Events Highlights Three Months ended Three Months ended % ($000's) March 34, 2013 March 31, 2012 Change Revenues $77,880 $64,538, 21% Adjusted EBITDA $19,261 $7,261 165% Net (loss) as reported ($5,854) (813,827) 88% EPS as reported (In $ per share) ($0.04) (80.47) 1%
Slide 4: 1Q 2013 Adjusted EBITDA vs. 1Q 2012
Ultrapetrol 1Q 2013 Adjusted EBITDA vs. 1Q 2012 Three months ended Three months ended % ‘Adjusted EBITDA per segment ($000's) March 31, 2013 March 31, 2012 __Difference_Change River Business 6523 G18) 7,041 Offshore Supply Business 9,459 6.436 3.023 47% ‘Ocean Business 153 50 103 206% Total Segment
Slide 5: Ultrapetrol (Bahamas) Limited
¥ ULTRAPETROL [TJ (Bahamas) Limited
Slide 6: River Business 1Q 2013 vs. 1Q 2012
River Business 1Q 2013 vs. 1Q 2012 FINANCIAL HIGHLIGHTS RIVER Three months ended Three months ended % (8000's) March 31, 2013 March 31, 2012 Change Gross Tons Loaded 926,964 662,145 40% Net Tons Transported 836,276 663,544 26% Revenues $39,347 $28,384 34% Voyage and Manufacturing Expenses (19.373) (
Slide 7: River Business: How Does 2013 Year-to-Date Compare?
River Business How does 2013 Year-to-Date Compare to Previous Years? Paraguayan Crop Already in Silos Improved Water Levels Higher Volumes (illons of metrictons) (ver level in meters) (000s of Metric Tons) Paraquayan Soybean Production Ladario Port — Paraquay River Gross Tons Loaded per Year for USD
Slide 8: Punta Alvear Yard - Vertically Integrated Barge Manufacturing
River Business Punta Alvear Yard - Vertically Integrated Barge Manufacturing Third Party Barge Sales EBITDA (Sin millions) $108 $13.7 2011, 2012 Proforma (1) #of barges: 19 37 51 = The Company’s barge building facility at Punta Alvear, Rosario, Argentina is the most modern of its kind in South Ameri
Slide 9: What is the Outlook for the River Business
River Business What is the Outlook for the River Business Key Components of EBITDA Improvement © 8.4 million tons of soybean crop compared to 7.1 million tons in 2011. Crop already collected so there is no uncertainty of volumes @ increased volume, due to additional barges and contract renewals at h
Slide 10: Offshore Supply
!/ = ULTRAPETROL J (Bahamas) Limited Offshore Supply
Slide 11: Offshore Supply Business 1Q 2013 vs. 1Q 2012
Offshore Supply Business 1Q 2013 vs. 1Q 2012 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY Three months ended Three months ended % ($000's) March 31, 2013 March 31, 2012 _Change Revenues 21,602 17,028 27% Voyage Expenses (49) 213) 22% Running Costs (6,386) (6.548) 2% Administrative and commercial expenses (2
Slide 12: Contractual Employment at Increasing Charter Rates
Offshore Supply Business Contractual Employment at Increasing Charter Rates Current Tate _ Expiration Duration 013 zona 2ots aote 207 SW Fleet UP Agua‘Marina $78,000 -—=Apr-13.-»—«=« yrs $35,200 jENNN OQ} v roaz0 23000 Mayo 6. EN UP Diamante L617 | oO} UP Esmeralda 26,200 Jun-t3—4yrs—31,950 IEE UP S
Slide 13: PSV Fleet is Growing and Employed at Higher Rates
Offshore Supply Business PSV Fleet is Growing and Employed at Higher Rates $13.7 million Eotivery il ‘$7.8 million Sadia (088.2012 E8ITDA © Annualized impact (352-days) of new contract rates for the UP Agua-Marinha, UP Diamante and UP Topazio © Annualized impact (352-days) of new contracts rates for
Slide 14: Ultrapetrol (Bahamas) Limited
1/ 7 ULTRAPETROL {I (Bahamas) Limited
Slide 15: Ocean Business 1Q 2013 vs. 1Q 2012
Ocean Business 1Q 2013 vs. 1Q 2012 FINANCIAL HIGHLIGHTS OCEAN Three months ended Three months ended 4, cy, ($000's) March 31, 2013 March 31, 2012 sal Revenues $16,941 $18,126 T% Voyage Expenses (6.685) (7.970) 29% Running Costs 8,043) 6.024) 13% ‘Administrative and commercial expenses (2.060) 247) 3
Slide 16: Product Tankers & Feeder Container Trade Evolution
Ocean Business Product Tankers & Feeder Container Trade Evolution Product Tankers * All of our vessels remained employed at their current contracts = Some of them have seen their rates increase retroactively based on cost (mostly salary) increases incurred in the recent past Feeder Container Vessels
Slide 17: Quarter-on-quarter Selected Statement of Operation Data
Ultrapetrol Quarter-on-quarter Selected Statement of Operation Data Three months ended Three monthe ended (3000's) March 31, 2013, Marchi, 201% Change Revenues ‘Atrbutable to River Business 20.347 $29,384 24% ‘Attributable to Otshore Supply Business 21,602 17.028 27% ‘Atrbutable o Ocean Business 16.
Slide 18: Quarter-on-quarter Income Statement
Ultrapetrol Quarter-on-quarter Income Statement Three months ended Three months ended (000) March 31, 2013 March 31, 2012 Revenues $77,890 $64,538 Voyage Expenses (26,007) (28,084) Running Costs 1.472) (28,022) Depreciation and amortization (10,120) (10,492) Administrative and commercial expenses (6
Slide 19: Balance Sheet
Ultrapetrol Balance Sheet ‘At March 31, 2013 ‘At December 31, % (8000's) (Unaudited) 2012 Change ASSETS Cash & Cash Equivalents $123,613 $222,215 48% Restricted Cash $6,973 $5,968 17% Accounts Receivables 47,125 36,487 29% Other Current Assets. 52,390 42,320 24% Vessels and Equipment, Net 646,106 64
Slide 20: Debt Repayment Schedule
Ultrapetrol Debt Repayment Schedule = On January 18, 2013, we entered into a loan agreement of up to $84.0 million with DVB, NIBC and ABN Amro (as co- lenders) to refinance the advances made under the Indian PSVs of the DVB / Natixis and DVB / NIBC facilities * Our $80.0 million convertible notes ha
Slide 21: Thank You
Thank You Q&A UA 21
Slide 22: Accumulated Cash Flow and EBITDA reconciliation
Appendix Accumulated Cash Flow and EBITDA reconciliation (s000's) ‘Three months ended Mar-t3_ Mar-12 Total cash flows provided by operating activities Total cash flows (used in) investing activities Total cash flows (used in) from financing activities 3864 7.354) (6.438) (11,340) (96,028) 9.145 Tota
Slide 23: 1Q 2013 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1Q 2013 Operating Profit to Adjusted Consolidated EBITDA Three months ended March 31, 2013 (8000's) River__Offshore Supply _Ocean__ TOTAL ‘Segment operating (loss) profit (83,934) $7,400 ($1,547) $1,919 Depreciation and amortization 5.846 2574 4,700 10,120 in affiiates / Net (loss)
Slide 24: 1Q 2012 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1Q 2012 Operating Profit to Adjusted Consolidated EBITDA Three months ended March 31, 2012 (8000's) River___ Offshore Supply _ Ocean TOTAL ‘Segment operating (loss) profit ($5,526) $4,038 ($2,595) ($4,083) Depreciation and amortization 5,417 2,569 2,506 10,492 Investment in affiiat