$UGP
ULTRAPAR HOLDINGS INC
CIK:0001094972|SEC Filings
Consolidated statements of cash flows - indirect method - BRL (R$) R$ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| CASH FLOWS FROM CONTINUING OPERATING ACTIVITIES | |||
| Net income from continuing operations | R$ 2,748,220 | R$ 2,525,900 | R$ 2,517,753 |
| Adjustments to reconcile net income to cash provided (consumed) by operating activities | |||
| Share of profit (loss) of subsidiaries, joint ventures and associates and amortization of fair value adjustments on associates acquisition | 157,610 | 129,675 | (11,908) |
| Amortization of contractual assets with customers - exclusivity rights | 469,766 | 555,083 | 607,446 |
| Amortization of right-of-use assets | 367,129 | 312,060 | 305,900 |
| Depreciation and amortization | 1,219,034 | 900,673 | 848,894 |
| Interest, monetary variations and foreign exchange variations | 1,472,633 | 1,557,814 | 1,349,953 |
| Current and deferred income and social contribution taxes | 1,063,689 | 1,485,617 | 1,060,942 |
| Gain (loss) on disposal or write-off of assets | (110,259) | (207,076) | (192,744) |
| Equity instrument granted | 40,564 | 57,458 | 38,909 |
| Gain (loss) on the fair value of energy contracts | (71,121) | (64,287) | 0 |
| Provision for decarbonization - CBIO | 370,823 | 584,371 | 740,298 |
| Revaluation of investment in associates | (91,105) | 0 | 0 |
| Provisions for tax, civil and labor risks | (103,901) | (4,708) | 192,975 |
| Other provisions and adjustments | (18,431) | (11,361) | (45,175) |
| Cash flows from operations before changes in working capital | 7,514,651 | 7,821,219 | 7,413,243 |
| (Increase) decrease in assets | |||
| Trade receivables and reseller financing | (185,611) | 180,339 | 259,878 |
| Inventories | (151,282) | 371,244 | 645,301 |
| Recoverable taxes | (171,126) | (585,254) | (309,322) |
| Dividends received from subsidiaries, associates and joint ventures | 11,141 | 2,028 | 12,041 |
| Other assets | 167,931 | (114,528) | (87,797) |
| Increase (decrease) in liabilities | |||
| Trade payables and trade payables - reverse factoring | (31,818) | (1,209,636) | (1,700,496) |
| Salaries and related charges | 47,615 | (17,019) | 30,965 |
| Taxes payable | 8,963 | (23,512) | (25,027) |
| Income and social contribution taxes payable | (949,442) | (1,057,460) | (892,118) |
| Other liabilities | 189,931 | (160,331) | 218,523 |
| Acquisition of CBIO and carbon credits | (370,501) | (713,453) | (778,885) |
| Payments of contractual assets with customers - exclusivity rights | (455,567) | (418,250) | (597,798) |
| Payment of contingencies | (78,537) | (30,896) | (70,128) |
| Income and social contribution taxes paid | (124,077) | (308,915) | (268,558) |
| Net cash provided by continuing operating activities | 5,422,271 | 3,735,576 | 3,849,822 |
| Net cash provided by discontinued operating activities | 30,231 | 0 | 0 |
| Net cash provided by operating activities | 5,452,502 | 3,735,576 | 3,849,822 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Financial investments, net of redemptions | (1,510,857) | (4,202,032) | 73,973 |
| Acquisition of property, plant and equipment and intangible assets | (2,005,243) | (1,787,175) | (1,287,330) |
| Sale of investments and other assets | 429,283 | 1,386,252 | 512,827 |
| Acquisition of investments and other assets | (937,457) | (1,785,517) | (324,125) |
| Cash acquired in business combination | 1,213,510 | 522 | 3,100 |
| Net cash consumed by continuing investing activities | (2,810,764) | (6,387,950) | (1,021,555) |
| Net cash consumed by discontinued investing activities | (34,948) | 0 | 0 |
| Net cash consumed by investing activities | (2,845,712) | (6,387,950) | (1,021,555) |
| Loans, financing and debentures | |||
| Proceeds | 8,669,139 | 4,179,974 | 2,903,031 |
| Repayments | (5,134,131) | (2,718,953) | (3,149,525) |
| Interest and derivatives (paid) or received | (1,899,251) | (1,117,562) | (1,267,447) |
| Payments of lease | |||
| Principal and interest paid | (480,722) | (433,488) | (359,113) |
| Dividends paid | (2,172,132) | (833,658) | (400,025) |
| Proceeds from financial liabilities of customers | 0 | 0 | 7,812 |
| Payments of financial liabilities of customers | (123,122) | (159,897) | (197,891) |
| Capital increase made by non-controlling shareholders and redemption of shares | (12,300) | 13,500 | 0 |
| Repurchase of treasury shares | (266,954) | (148,945) | 0 |
| Related parties | (43,521) | (15,073) | (31,238) |
| Net cash consumed by continuing financing activities | (1,462,994) | (1,234,102) | (2,494,396) |
| Net cash consumed by discontinued financing activities | (6,596) | 0 | 0 |
| Net cash consumed by financing activities | (1,469,590) | (1,234,102) | (2,494,396) |
| Effect of exchange rate changes on cash and cash equivalents in foreign currency - continuing operations | (44,981) | 32,381 | (29,952) |
| Increase (decrease) in cash and cash equivalents - continuing operations | 1,103,532 | (3,854,095) | 303,919 |
| Increase (decrease) in cash and cash equivalents - discontinued operations | (11,313) | 0 | 0 |
| Cash and cash equivalents at the beginning of the year - continuing operations | 2,071,593 | 5,925,688 | 5,621,769 |
| Cash and cash equivalents at the beginning of the year - discontinued operations | 11,313 | 0 | 0 |
| Cash and cash equivalents at the end of the year - continuing operations | 3,175,125 | 2,071,593 | 5,925,688 |
| Non-cash transactions: | |||
| Addition and remeasurement on right-of-use assets and leases payable | 400,758 | 342,332 | 257,201 |
| Addition on contractual assets with customers - exclusivity rights | 67,393 | 5,627 | 66,565 |
| Reclassification between financial assets and investment in associates | 0 | 645,333 | 0 |
| Issuance of shares related to the subscription warrants - indemnification - Extrafarma acquisition | 0 | 6,452 | 411 |
| Acquisition of property, plant and equipment and intangible assets without cash effect | R$ 23,478 | R$ 42,180 | R$ 104,177 |
Consolidated statements of financial position - BRL (R$) R$ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Current assets | ||
| Cash and cash equivalents | R$ 3,175,125 | R$ 2,071,593 |
| Financial investments | 3,851,758 | 2,306,927 |
| Derivative financial instruments | 127,254 | 246,084 |
| Trade receivables | 3,703,954 | 3,540,266 |
| Reseller financing | 573,093 | 511,979 |
| Inventories | 4,244,164 | 3,917,076 |
| Recoverable taxes | 1,685,426 | 2,040,008 |
| Recoverable income and social contribution taxes | 317,963 | 151,930 |
| Energy trading futures contracts | 371,241 | 141,257 |
| Dividends receivable | 923 | 3,415 |
| Other receivables and other assets | 294,068 | 294,769 |
| Prepaid expenses | 165,392 | 163,846 |
| Contractual assets with customers - exclusivity rights | 666,109 | 658,571 |
| Total current assets | 19,176,470 | 16,047,721 |
| Non-current assets | ||
| Financial investments | 2,381,597 | 2,819,179 |
| Derivative financial instruments | 773,063 | 585,294 |
| Trade receivables | 33,282 | 27,003 |
| Reseller financing | 800,927 | 766,045 |
| Related parties | 105,196 | 48,309 |
| Deferred income and social contribution taxes | 1,007,291 | 936,941 |
| Recoverable taxes | 3,717,815 | 2,650,269 |
| Recoverable income and social contribution taxes | 346,093 | 346,137 |
| Energy trading futures contracts | 724,121 | 263,438 |
| Escrow deposits | 471,609 | 446,076 |
| Indemnification asset - business combination | 92,524 | 126,098 |
| Other receivables and other assets | 185,726 | 117,076 |
| Prepaid expenses | 80,643 | 40,904 |
| Contractual assets with customers - exclusivity rights | 1,518,987 | 1,473,331 |
| Investments in subsidiaries, joint ventures and associates | 521,381 | 2,148,633 |
| Right-of-use assets, net | 1,928,694 | 1,671,324 |
| Property, plant and equipment, net | 12,167,097 | 7,135,966 |
| Intangible assets, net | 3,316,478 | 1,908,330 |
| Total non-current assets | 30,172,524 | 23,510,353 |
| Total assets | 49,348,994 | 39,558,074 |
| Current liabilities | ||
| Trade payables | 4,643,344 | 3,518,385 |
| Trade payables - reverse factoring | 3,785 | 1,014,504 |
| Loans, financing and debentures | 4,251,131 | 3,478,673 |
| Derivative financial instruments | 246,064 | 74,087 |
| Salaries and related charges | 576,674 | 480,285 |
| Taxes payable | 236,928 | 151,230 |
| Energy trading futures contracts | 303,455 | 66,729 |
| Dividends payable | 23,073 | 327,471 |
| Income and social contribution taxes payable | 358,685 | 322,074 |
| Post-employment benefits | 19,067 | 24,098 |
| Provisions for tax, civil and labor risks | 49,175 | 47,788 |
| Leases payable | 343,725 | 316,460 |
| Financial liabilities of customers | 63,445 | 117,090 |
| Other payables | 728,793 | 554,327 |
| Total current liabilities | 11,847,344 | 10,493,201 |
| Non-current liabilities | ||
| Loans, financing and debentures | 15,842,130 | 10,381,837 |
| Derivative financial instruments | 334,851 | 367,513 |
| Energy trading futures contracts | 431,418 | 48,047 |
| Related parties | 2,875 | 3,516 |
| Deferred income and social contribution taxes | 637,897 | 132,825 |
| Post-employment benefits | 196,549 | 198,778 |
| Provisions for tax, civil and labor risks | 485,439 | 610,572 |
| Leases payable | 1,395,908 | 1,168,692 |
| Financial liabilities of customers | 10,881 | 63,135 |
| Subscription warrants - indemnification | 53,911 | 47,745 |
| Provision for loss on investment | 76,059 | 349 |
| Other payables | 303,115 | 218,420 |
| Total non-current liabilities | 19,771,033 | 13,241,429 |
| Equity | ||
| Share capital | 7,987,100 | 6,621,752 |
| Equity instrument granted | 144,694 | 108,253 |
| Capital reserve | 617,009 | 612,048 |
| Treasury shares | (822,526) | (596,400) |
| Revaluation reserve | 3,476 | 3,632 |
| Profit reserves | 7,662,403 | 8,195,221 |
| Accumulated other comprehensive income | 223,355 | 214,212 |
| Acquisition of shares from shareholders | (149,239) | 0 |
| Equity attributable to: | ||
| Ultrapar shareholders' equity | 15,666,272 | 15,158,718 |
| Non-controlling interests | 2,064,345 | 664,726 |
| Total equity | 17,730,617 | 15,823,444 |
| Total liabilities and equity | R$ 49,348,994 | R$ 39,558,074 |