In the beginning of this year we have carried out the segregation and handover of the Petrochemical and Northern Distribution assets to Braskem and Petrobras. Concurrently, we have continued our investments in the expansion of the company and in the implementation of our business plan at Ipiranga, aiming at obtaining benefits through increased volume and economies of scale.
- Ipiranga sales volume increased 5.5%, Oxiteno's specialty chemicals sales volume increased 11.8%, average storage volumes at Ultracargo increased 14.1% comparing to 1Q07 - Ultrapar's EBITDA amounted to R$ 223 million in 1Q08, up 93% on 1Q07 - Net earnings at Ultrapar amounted to R$ 90 million in 1Q08, up 142% on 1Q07 - Average daily trading volume in Ultrapar's shares amounted to R$ 32 million in 1Q08, A 218% increase on 1Q07
"A year on from the acquisition of the control of Ipiranga, we have successfully concluded the segregation and handover of the Petrochemical and Northern Distribution Assets with the receipt of respective payments from Braskem and Petrobras. In parallel, we have continued our work on the expansion of the company through the investment in additional production capacity, particularly at Oxiteno. Having re-established the financial position we had before the acquisition, we will continue to focus on the sustainable growth of all our businesses, also seeking to exploit opportunities arising from the favourable moment of the Brazilian economy." Pedro Wongtschowski - CEO.
Results Conference Calls National Conference Call Date: May 16, 2008 10:00 am (local time) Telephone for connection: 55 11 2188-0188 Code: Ultrapar International Conference Call Date: May 16, 2008 12:00 midday (local time) Participants in Brazil: 0-800-891-9722 Participants in US: 1-800-418-6854 International: Participants 1 (973) 935-8893 Code: 43826483 Ultrapar Participacoes S.A. UGPA4 = R$ 61.70/ share UGP = US$ 34.47/ ADR (03/31/08) Contact: Renato Galotti Pereira 55 11 3177-6595
SOURCE Ultrapar Participacoes S.A.