Brazil Ultrapar Q4 earnings rise 14% year on year

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= R1.67)
($1 = €0.73)

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By: Al Greenwood
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