Ultrapar Announces its 4Q10 and 2010 Results

SAO PAULO, Feb. 23, 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 fourth quarter of 2010 and for the year 2010.

We reported in this 4Q10 our eighteenth consecutive quarter of growth in Ultrapar's EBITDA, which reached R$ 465 million, up 14% over 4Q09. In this quarter, net earnings grew by 81% over the same period of 2009. We ended 2010 achieving record levels of earnings, with strong 24% growth in EBITDA and 74% growth in net earnings over the previous year.

• ULTRAPAR'S NET SALES EXCEEDS R$ 42 BILLION IN 2010, UP 18% OVER 2009
• ULTRAPAR'S EBITDA REACHES R$ 1,776 MILLION IN 2010, UP 24% OVER 2009
• ULTRAPAR'S NET EARNINGS REACHES R$ 765 MILLION IN 2010, UP 74% OVER 2009
• ADDITIONAL DIVIDEND DISTRIBUTION OF R$ 252 MILLION APPROVED, RESULTING IN TOTAL DIVIDENDS OF R$ 429 MILLION IN 2010, 54% GROWTH OVER 2009, CORRESPONDING TO A 56% PAYOUT FOR THE YEAR

"The larger scale of operations, derived from investments made in the last years, combined with our financial prudence and results - and value creation oriented culture, allowed us to reach record earnings levels in 2010, boosted by the strong growth of the Brazilian economy. With the results obtained in 2010, we accumulated in the last 10 years an average annual growth of 19% and 20% in our EBITDA and net earnings, respectively. We entered into a new decade prepared to continue creating value in an increasing and consistent way, through the investments made in the last years, the leading position of our businesses, our financial soundness and constant pursue for good investment opportunities," Pedro Wongtschowski – CEO

SOURCE Ultrapar Participacoes S.A.