Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Stephens Investment Conference 2009
21 slides from Ultrapetrol (bahamas)'s conference presentation, Nov 18, 2009
Slide 1: Stephens Investment Conference
November 18, 2009 Stephens Investment Conference
Slide 2: Forward Looking Statements & EBITDA
Forward Looking Statements & EBITDA 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
Slide 3: Diversified Structure
Diversified Structure 100% 94.45% 100% 100% River Offshore Supply Ocean Ship Business Business Business Management “UABL” “UP Offshore” “Ultrapetrol” “Ravenscroft” Ø 591 barges à over Ø 6 large PSVs in Ø 5 Product Tankers à Ø Technical 1.0 million dwt static operation à 4,200 m2 73,000 dwt managemen
Slide 4: River Business
River Business 4
Slide 5: Hidrovia System
Hidrovia System Ø Runs over 2,200 miles across the agricultural heartland of South America § Comparable in length to the Mississippi system Hidrovia Region Mississippi Region Hub Corumba UABL Brazil Asunción UABL Paraguay Tres Fronteras Wanda Dos Fronteras Hub Hub San Gotardo Km 1,200 Hub Buenos Air
Slide 6: UABL the most efficient inland barging company in Hidrovia
…and UABL the most efficient inland barging company in Hidrovia Corumba UABL Brazil Ø UABL operates more efficiently than its competitors due to a system of hubs Ø Hubs divide the Hidrovia system in segments consequently maximizing the rivers’ capacity and utilizing intensively Asunción B the expens
Slide 7: Very Strong Long Term Fundamentals
Very Strong Long Term Fundamentals UABL loaded 4.3 million tons in 2008 Original USDA estimate for 2009 10-year Seeded Area CAGR = 9% 7.2 Source: USDA Ø Soybean Production in Paraguay has grown significantly Ø Getting ready for 2010: for the last decade in line with the expansion of seeded area ü Re
Slide 8: Large Capacity Renewal Required in the Medium term
Large Capacity Renewal Required in the Medium term Ø Hidrovia fleet is predominantly old and will require substantial replacement in the next 5 years 511 belong to Ø In current financial environment it is 607 unlikely that smaller companies may obtain competitors financing for fleet renewal 269 289
Slide 9: Offshore Supply Business
Offshore Supply Business 9
Slide 10: Attractive Prospects on the Offshore Supply Business
Attractive Prospects on the Offshore Supply Business Ø Petrobras announced revised 5-yr CAPEX (Jan-09): US$ 175 Bn basis WTI @ US$ 42 / bbl § represents 55% increase from prior 5-yr CAPEX made public in 2008 § US$ 48 Bn to go to new projects, of which US$ 28 Bn are “pre-salt” ultra deep water drilli
Slide 11: Very Modern and Homogeneous Fleet
Very Modern and Homogeneous Fleet In Operation Under Construction 11
Slide 12: Consolidating our presence in Brazil
Consolidating our presence in Brazil Ø Currently have 4 vessels operating in Brazil under long term charters with Petrobras at attractive rates ü Recently re-negotiated and extended contracts for UP Agua-Marinha and UP Diamante for 3 years ü UP Rubi was received from yard during the 3Q 09 and commen
Slide 13: Ocean Business
ULTRAPETROL Ocean Business ——— a — SSS a = == Se —- m«<, 13
Slide 14: Positioned for Growth in the South American Tanker Market
Positioned for Growth in the South American Tanker Market Ø Demand is led by major oil companies à stable Ø Distribution of products normally done by smaller chemical / product crude coastal vessels Ø Reduced exposure to the spot market à long term charters with major international oil companies Ø C
Slide 15: Capesize Fleet Overview & Outlook
Capesize Fleet Overview & Outlook Industry overview: Ø Capesize market has showed a substantial increase in 4CTC levels which if sustained will benefit our Capesize fleet in 1Q 10 when our vessels complete their scheduled COA employments Ø Calendar 2010 is currently quoted @ $32,000 / day which show
Slide 16: CAPEX Program
CAPEX Program Ø 4Q 2009-2010 Total CAPEX = $107.7 million Ø Cash & Cash Equivalents as of September 30, 2009: $41.9 million Ø Undrawn portion of DVB / Natixis Financing as of September 30, 2009: $69.5 million Ø Undrawn new BNDES financing: $18.7 million Ø Additional leverage capacity: • Chinese PSV’
Slide 17: Summary Financials
Summary Financials 17
Slide 18: Income Statement
Income Statement (1) Reconciliations of EBITDA and Adjusted EBITDA to US GAAP measures are available on the Appendix to the presentations of FY 2008, 1Q 2009, 2Q 2009 and 3Q 2009, all of them filed with the US SEC 18
Slide 19: Balance Sheet
Balance Sheet At September At December % Change (in $ 000's) 30, 2009 31, 2008 ASSETS Cash & Cash Equivalents $41,854 $105,859 60% Accounts Receivables 20,577 17,782 16% Other Current Assets 59,853 84,271 29% TOTAL CURRENT ASSTES 122,284 207,912 41% Vessels and Equipment, Net 593,564 552,683 ™% Nonc
Slide 20: Conclusions
Conclusions Ø Our River Business has been affected in 2009 by the prolonged drought, the worst in the last 70 years Ø Offshore results affected in 2009 by lower earnings in the North Sea partially corrected by the repositioning of one vessel back to Brazil where 4 vessels have been chartered long te
Slide 21: Slide 21
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