Ultrapetrol (bahamas) Limited · OTC:ULTRF
Ultrapetrol (bahamas) — Q1 2012 Earnings Presentation
25 slides from Ultrapetrol (bahamas)'s earnings presentation, May 16, 2012
Slide 1: First Quarter 2012 Earnings Call Presentation
| ULTRAPETROL (Bahamas) Ltd. First Quarter 2012 Earnings Call Presentation May 16, 2012
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 2012 & Subsequent Events Highlights
Ultrapetrol 1Q 2012 & Subsequent Events Highlights Three months ended Three months ended % ($000) March 31, 2012 March 31, 2011 Change Revenues $64,538, $68,322 11% Adjusted EBITDA”) $7,261 $11,918 39% Net (loss) as reported (813,827) (87,683) 80% EPS as reported (In $ per share) (80.47) ($0.26) 80%
Slide 4: 1Q 2012 Adjusted EBITDA vs. 1Q 2011
Ultrapetrol 1Q 2012 Adjusted EBITDA vs. 1Q 2011 Three months ended Three months ended % Adjusted EBITDA per segment March 31, 2012 March 31, 2011__Difference_Change River Business 18) 6,787 (7,305) Offshore Supply Business 6,436 3,608 2,830 78% ‘Ocean Business 50 1,179 (1,128) 96% Total Segment Adju
Slide 5: Historical Consolidated EBITDA and 2012 Guidance
Ultrapetrol Historical Consolidated EBITDA and 2012 Guidance Historical Adjusted Consolidated EBITDA $744 = 3613 Sel $540 : i 7 = 2009 2010 2011 2012 (©) 2012 €) Low end High end = One more PSV will be in operation under a charter to Petrobras in the second half of 2012 * In spite of the severe drou
Slide 6: River Business
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Slide 7: River Business 1Q 2012 vs. same period of 2011
River Business 1Q 2012 vs. same period of 2011 FINANCIAL HIGHLIGHTS RIVER Three months ended Three months ended ($000's) March 31, 2012 March 31, 2014 change Net Tons Transported 663,644 4,002,210 24% Revenues $29,384 $91,276 6% Voyage and Manufacturing Expenses (48,01) (13,278) 42% Gross Margin 10,
Slide 8: Paraguayan soybean prospects & price evolution
River Business Paraguayan soybean prospects & price evolution Paraguayan Seeded Area & Production (?) Monthly Soybean Prices — Apr 09 — Apr 12 (In $ per metric ton)(2) 512 40% BSeeded Area Production aGR: sion cA Million Hectares & Tons 2unn 2002 zo 2005 206 2007 208 2009 2010 2011 7012 LB ID LO YO
Slide 9: Corumba Region iron ore prospects & price evolution
River Business Corumba Region iron Ore prospects & price evolution Monthly Iron Ore Prices — Mar 09 — Mar 12 Hidrovia Regional Iron Ore Production @ (in$ per dry metric ton) co Prodyction (Ip MijfionJons) “2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 x a ee a ar ae = As discussed in the pr
Slide 10: Offshore Supply
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Slide 11: Offshore Supply Business 1Q 2012 vs. 1Q 2011
Offshore Supply Business 1Q 2012 vs. 1Q 2011 FINANCIAL HIGHLIGHTS OFFSHORE SUPPLY Three months ended Three months ended (8000's) March 31, 2012 March 31, 2011 mechange Revenues 17,028 12,673 34% Voyage Expenses (1.213) (684) 37% Running Costs 6548) 877) 13% ‘Administrative and commercial expenses (1
Slide 12: Petrobras' Oil production evolution & CAPEX Program
Offshore Supply Business Petrobras’ Oil production evolution & CAPEX Program Petrobras’ total oil production in Brazil () Petrobras’ Historical CAPEX () 224.7 1,950 is RESP =Total ‘sane = aso MEGP 2011-2015 30 Total 2011-2015 2 1.800 o n750 2 1,700 3570 4925 6: 1,650 | ° Jan-11 Apr-11 Jule11 Oct-11
Slide 13: Offshore Supply Business Market Update
Offshore Supply Business Market Update Brazilian Market = Brazilian offshore market is growing at an unprecedented pace driven by Petrobras’ investment plans in the region = Petrobras expects to double proven reserves until 2020 “) = “Pre-salt participation in national production of oil will grow fr
Slide 14: Fleet List & Upcoming charter renewals
Offshore Supply Business Fleet List & Upcoming charter renewals Vessel Capacity (dwt) Deck Area Year Built Market Status Approx. Expiry UP Agua-Marinha 4,200 840 m 2006 Brazil Chartered ‘Sep-12 UP Topazio 4,200 840m? 2006 Brazil Chartered Oct-12 > Three charter UP Diamante 4,200 840m? 2007 Brazil Ch
Slide 15: Ocean Business
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Slide 16: Ocean Business 1Q 2012 vs. 1Q 2011
Ocean Business 1Q 2012 vs. 1Q 2011 FINANCIAL HIGHLIGHTS OCEAN Three months ended Three months ended (8000's) March 31,2012 March 31,2011 % Change Revenues $18,126 $14,373 26% Voyage Expenses 7370) (4231) 86% Running Costs (024) (658) 21% Administrative and commercial expenses @247) (2.258) 44% Other
Slide 17: Feeder Container Trade Evolution
Ocean Business Feeder Container Trade Evolution Total Revenues -1Q 2011 vs. 1Q2012 Feeder Container Vessels - MV Asturiano & MV Argentino = Performance of our feeder container service has been strong during the first quarter of 2012 = Our customers are mostly large long-distance carriers for who we
Slide 18: Quarter-on-quarter Selected Statement of Operation Data
Ultrapetrol Quarter-on-quarter Selected Statement of Operation Data “Three months ended —Tivee montNs ended (3000's) March 31, 2012 Marchi, 2011 Change Revenues ‘Attributable to Rhver Business $29.86 $21,276 0% ‘Attributable to Ofshore Supply Business 17,028 12673 34% ‘Attributable to Ovean Business
Slide 19: Quarter-on-quarter Income Statement
Ultrapetrol Quarter-on-quarter Income Statement Three months ended Three months ended (8000's) March 31, 2012 March 31, 2014 Revenues $64,538 $58,322 Voyage Expenses. (28,084) (18,453) Running Costs (8,022) (22,543) Depreciation and amortization (10,492) (9.200) Administrative and commercial expense
Slide 20: Balance Sheet
Ultrapetrol Balance Sheet ($000's) ‘At March 31, 2012 (Unaudited) ‘At December 31, 2011 ASSETS Cash & Cash Equivalents $24,773 $34,096 Accounts Receivables 29,553 32,205 Other Current Assets 42,958 41,044 Vessels and Equipment, Net 672,490 671,445, Non-current Other Receivables 22,244 15,370 Non-cur
Slide 21: Debt Repayment Schedule
Ultrapetro! Debt Repayment Schedule += Natixis portion of our Indian PSV financing is shown as current due 2012 while a new long-term financing is being organized * Balanced yearly principal repayments in the medium term = Our $180.0 million note does not have any loan to value ratios to be maintain
Slide 22: Thank You Q&A
Thank You Q&A Ur 22
Slide 23: Accumulated Cash Flow and EBITDA reconciliation
Appendix Accumulated Cash Flow and EBITDA reconciliation Three months ended (5000's) Mar12___Mar-11 Total cash flows (used in) operating activites (7a5a) (2,042) Total cash flows (used in) investing activities (11340) @7,711) Total cash flows provided by financing activities 9.145 267, Total cash fl
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 _Qcean__ TOTAL ‘Segment operating (loss) profit ($5,526) $4038 ($2,595) ($4,083) Depreciation and amortization 5417 2,569 2,506 10,492 Investment in affiliate
Slide 25: 1Q 2011 Operating Profit to Adjusted Consolidated EBITDA
Appendix (cont’d) 1Q 2011 Operating Profit to Adjusted Consolidated EBITDA Three months ended March 31, 2011 (8000's) River Offshore Supply __Ocean__ TOTAL ‘Segment operating profit (loss) $2,322 $1,445 (61,154) $2,613 Depreciation and amortization 4,738 2.142 2,320 9,200 Loss on write-down vessels