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4-Traders Homepage  >  Equities  >  Nyse  >  Ultrapar Participacoes SA    UGP

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ULTRAPAR SP.ADR : Ultrapar Releases Results of Second Quarter

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08/07/2008 | 03:26am CET

SAO PAULO, Brazil, Aug. 6 /PRNewswire-FirstCall/ -- Ultrapar Participacoes S.A. (BOVESPA: UGPA4 / NYSE: UGP), a company engaged in the distribution of fuels (Ultragaz/Ipiranga), the production of chemicals (Oxiteno), as well as integrated solutions for special bulk cargo (Ultracargo), hereby reports its results for the second quarter of 2008.

    In this 2Q08 we were assigned investment grade rating by Moody's. We also
    took additional steps towards growing our businesses, with the
    announcement of the acquisition of Uniao Terminais and the operational
    start-up of the oleochemical unit of Oxiteno, located in Camacari. We also
    reported an improvement in results in the quarter, with higher volumes,
    EBITDA and net earnings allowing a significant dividends distribution.

    -- ULTRAPAR's REVENUES GROW IN ALL BUSINESS UNITS IN 2Q08 COMPARED TO 2Q07

    -- ULTRAPAR'S EBITDA AMOUNTED TO R$ 248 MILLION IN 2Q08, UP 10% AND 11% ON
       2Q07 AND 1Q08, RESPECTIVELY

    -- NET EARNINGS AMOUNTED TO R$ 104 MILLION IN 2Q08, ALMOST THREE TIMES
       HIGHER THAN 2Q07 AND UP 15% ON 1Q08

    -- DISTRIBUTION OF R$ 119 MILLION IN DIVIDENDS CORRESPONDING TO 61% OF
       ULTRAPAR'S 1S08 CONSOLIDATED NET EARNINGS


    "In this second quarter, we have made progress in implementing our growth
    plan, with the completion of the construction of the oleochemical unit at
    Oxiteno and the acquisition of the Uniao Terminais by Ultracargo. Through
    the acquisition of Uniao Terminais, we aim to capture the strong demand
    for logistic infrastructure in Brazil related to biofuels, agribusiness
    and chemical products, consolidating Ultracargo's leading position in the
    bulk liquids segment in South America. In July, we began operations at our
    oleochemical unit, strengthening Ultrapar's growth strategy through
    increased scale and differentiated technology. In addition, Ultrapar
    obtained investment grade rating  by Moody's, reinforcing Ultrapar's
    position as a company with strong cash generation and sound financial
    management."

    Pedro Wongtschowski - CEO

    Results Conference Call

    National Conference Call
    Date: August 08, 2008
    11.00 am (local time)
    Telephone for connection: 55 11 2188-0188
    Code: Ultrapar

    International Conference Call
    Date: August 08, 2008
    12.30 midday (local time)
    Participants in Brazil: 0-800-773-4613
    Participants in US: 1-800-860-2442
    International: Participants 1 (412) 858-4600
    Code: Ultrapar

SOURCE Ultrapar Participacoes S.A.

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