Ultra(US:UGP)2025-08-13 22:32Financial Performance - Consolidated net revenue from sales and services for the first half of 2025 reached R$34,055,043, an increase from R$32,343,947 in the same period of 2024, representing a growth of approximately 5.3%[22] - Net income for the period was R$1,088,364 for the first half of 2025, compared to R$437,915 in the same period of 2024, showing a substantial increase of approximately 148.5%[22] - The company reported a basic earnings per share of R$1.0103 for the first half of 2025, up from R$0.3969 in the first half of 2024, representing an increase of about 154.5%[22] - Net income for the period attributable to shareholders of Ultrapar was R$1,088,364 thousand for the six months ended June 30, 2025, compared to R$1,421,210 thousand for the same period in 2024, representing a decrease of approximately 23.4%[24] - Total comprehensive income for the period attributable to shareholders of Ultrapar was R$1,014,801 thousand for the six months ended June 30, 2025, down from R$1,357,808 thousand in 2024, reflecting a decline of about 25.3%[24] - The company reported a net income of R$1,150,532 thousand for the consolidated group for the six months ended June 30, 2025, compared to R$1,513,716 thousand in 2024, indicating a decrease of approximately 24%[24] - Basic earnings per share for the period was R$1.0001 for the six months ended June 30, 2025, compared to R$1.3026 in 2024, a decline of about 23.2%[24] - The company reported a gain on the fair value of energy contracts amounting to R$33,830, which was not present in the previous year[30] Assets and Liabilities - As of June 30, 2025, Ultrapar's consolidated total assets reached R$45.61 billion, an increase from R$39.56 billion as of December 31, 2024, representing a growth of approximately 15.4%[20] - Total current assets increased to R$16.86 billion from R$16.05 billion, showing a growth of approximately 5%[20] - Non-current assets grew to R$28.75 billion from R$23.51 billion, reflecting an increase of around 22.2%[20] - The company's total liabilities rose from R$39,558,074 as of December 31, 2024, to R$45,608,193 as of June 30, 2025, indicating an increase of approximately 15.5%[21] - Total current liabilities decreased from R$10,493,201 as of December 31, 2024, to R$9,279,761 as of June 30, 2025, reflecting a reduction of approximately 11.6%[21] - Non-current liabilities increased significantly from R$13,241,429 as of December 31, 2024, to R$17,932,663 as of June 30, 2025, marking an increase of about 35.5%[21] Cash Flow and Investments - The consolidated cash and cash equivalents stood at R$2.90 billion, up from R$2.07 billion at the end of 2024, reflecting a growth of 40%[20] - Net cash provided by continuing operating activities reached R$1,058,787, a significant increase from R$490,180 in Q2 2024[31] - Consolidated cash flows from investing activities showed a net inflow of R$1,210,689, compared to a net outflow of R$2,895,619 in Q2 2024[31] - The company reported a capital increase in subsidiaries, associates, and joint ventures amounting to R$357,090, down from R$584,085 in the previous year[32] - The company reported proceeds of R$4,685,905 from loans and financing during the first half of 2025, while principal payments totaled R$3,981,234[125] Equity and Shareholder Information - Total equity increased from R$15,823,444 as of December 31, 2024, to R$18,395,769 as of June 30, 2025, reflecting a growth of approximately 16.2%[21] - The balance of total equity as of June 30, 2025, was R$18,395,769 thousand, an increase from R$14,029,826 thousand as of December 31, 2024, reflecting a growth of approximately 31.0%[26] - The company approved dividends totaling R$493,301, equivalent to R$0.45 per share, which was paid on March 14, 2025[170] Operational Performance - Gross profit for the consolidated operations was R$2,147,707 for the first half of 2025, compared to R$2,108,092 in the first half of 2024, indicating a slight increase of 1.9%[22] - The company reported a total depreciation and amortization of R$907,012 for the period, which includes various amortization expenses[182] - Operating income for the total segments was R$2,365,758, indicating a strong operational performance despite the decline in net income[182] Acquisitions and Investments - Ultrapar acquired a controlling interest of 52.05% in Hidrovias do Brasil S.A., up from 41.94% as of December 31, 2024[44] - The company acquired control of Hidrovias on May 8, 2025, which may impact future financial performance[63] - The acquisition of control over Hidrovias do Brasil S.A. was completed on May 8, 2025, with an investment of R$1,840,236 impacting the financial results significantly[100] Financial Risks and Policies - The company has a financial risk policy approved by its Board of Directors, focusing on preserving the value and liquidity of financial assets[197] - Market risks include exchange rate, interest rate, commodity prices, credit risk, and liquidity risk, all managed through specific strategies and instruments[200] - The Financial Risk Committee monitors compliance with the financial risk policy and reports to the Audit and Risk Committee[198]