23 February 2011 23:41 [Source: ICIS news]
HOUSTON (ICIS)--Brazilian fuel distributor and specialty chemicals producer Ultrapar reported on Wednesday fourth-quarter earnings of reais (R) 465m ($278m, €203m), up 14% year on year.
Fourth-quarter sales were R11.3bn, up 8% year on year.
For all of 2010, Ultrapar reported R1.78bn in earnings before interest, tax, depreciation and amortisation (EBITDA), up 24% year on year. Ultrapar attributed the increase to its Texaco acquisition and to higher earnings in all of its segments.
For 2010, net sales were R42.5bn, up 18% year on year. Ultrapar attributed the increase to higher volumes and to the Texaco acquisition.
Oxiteno, Ultrapar's specialty chemicals segment, reported R54m in fourth-quarter EBITDA, up 44% year on year. Ultrapar attributed the increase to margin recovery, which more than offset a 6% decline in sales volumes.
Volumes fell because of a maintenance stoppage at Braskem's Camacari plant, which supplies ethylene, Ultrapar said.
($1 = €0.73)
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