Ipiranga drives good results of the Ultra group

Ultrapar, the conglomerate that brings together companies in the sectors of fuel distribution (Ipiranga), LPG gas (Ultragaz), chemical (Chemical), and liquid bulk storage (Ultracargo), closed the first quarter with net profit of $ 247 million, up 29% on the same period last year. The company's net revenue was R $ 13.6 billion in the quarter, an increase of 10% over the same period last year. The earnings before interest, taxes, depreciation and amortization (Ebitda) closed at $ 614 million, 23% increase.
The good performance of the company reflects the results of fuel distributor Ipiranga, the core business of the group. The volume of sales of fuels grew by 2% in the first quarter, or 6% on comparable bases of business days, depending on the continuity of the light vehicle fleet growth and investments to expand the network. It is to this Division that the Ultra good reserve part of their investments to $ 872 million this year--a total of r $ 1.4 billion. Last year, the Group made investments of r $ 1.3 billion.
In a recent interview to the value, the company reported that the group will strengthen their bets in the expansion of fuel stations of white flag. Midwest regions, North and Northeast are still on the radar.
This quarter, the Division Ultragaz reduction of 2% in the volume sold over the same period last year, mainly due to the lower number of working days in the period. At Oxiteno, sales volume totaled 198 million tons, 6 percent above the same quarter of 2012, driven by sales growth of specialties for the cosmetics and detergents and by acquisition of specialty chemicals plant in Uruguay in November. Also in this quarter the average storage of Ultracargo grew 11% as compared to the same period in 2012, mainly by the acquisition of Temmar, terminal in the port of Itaqui (MA), from August, and larger drives "spot" in the Suape terminal, partially offset by lower movement of ethanol in Santos.
The results released yesterday by the company came out in line with the designed by analysts heard by value. The preliminary reports of results of Bradesco Corretora and Itaú BBA, Citibank pointed out, on average, net income of r $ 250,3 million; net revenues of r $ 13,659 billion and Ebitda of r $ 611,7 million.