SAO PAULO, Aug. 10, 2011 /PRNewswire/ -- Ultrapar Participacoes S.A. (BM&FBOVESPA: UGPA4 / NYSE: UGP), a company engaged in fuel distribution (Ultragaz/Ipiranga), chemicals (Oxiteno) and storage for liquid bulk (Ultracargo), hereby reports its results for the second quarter of 2011.
We have reached in this 2Q11 one more quarter of positive and consistent earnings progression, presenting growth of 8% in EBITDA and 12% in net earnings. In June, the shareholders' meetings approved Ultrapar's new corporate governance structure, which includes the conversion of each preferred share into one common share, the migration to the Novo Mercado listing segment and amendments to the bylaws that strengthen the company's governance.
- ULTRAPAR'S NET SALES REACH R$ 12 BILLION IN 2Q11, UP 17% OVER 2Q10
- ULTRAPAR'S EBITDA REACHES R$ 503 MILLION IN 2Q11, UP 8% OVER 2Q10
- ULTRAPAR'S NET EARNINGS REACH R$ 215 MILLION IN 2Q11, 12% HIGHER THAN THAT IN 2Q10
- DIVIDEND DISTRIBUTION OF R$ 252 MILLION APPROVED FOR 1H11, CORRESPONDING TO A 62% PAYOUT OF THE CONSOLIDATED NET EARNINGS
"We are pleased to report our twentieth consecutive quarter of EBITDA growth, which occurred over the last five years through different economic scenarios. Such growth reflects the consistent planning and execution of our strategy as well as our focus on value creation. In this second quarter, we also took very important steps towards deepening the alignment of interests and enduring the company's growth with the approval of Ultrapar's new corporate governance structure by the shareholders' meetings. This new structure aims at positioning the company to maintain its long path of sustained growth and value creation."
Pedro Wongtschowski – CEOResults conference call Brazilian conference call August 12th, 2011 10:00 a.m. (US EST) Sao Paulo – SPTelephone for connection: +55 11 2188 0155Code: Ultrapar International conference call August 12th, 2011 11:30 a.m. (US EST)Participants in the USA: 1 877 317 6776Participants in Brazil: 0800 891 0015Participants International: +1 412 317 6776Code: Ultrapar IR contact E-mail: email@example.comTelephone: +55 11 3177 7014Website: www.ultra.com.br Ultrapar Participacoes S.A.UGPA4 = R$ 27.65/share (06/30/11)UGP = US$ 18.13/ADR (06/30/11) SOURCE Ultrapar Participacoes S.A.