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Segment information | 12 Months Ended
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Dec. 31, 2023
Segment information |
Segment information | 2 5 Segment information The Company has three relevant business segments, working in energy and infrastructure logistics: Ipiranga, Ultragaz and Ultracargo. The gas distribution segment (Ultragaz) distributes LPG to residential, commercial, and industrial consumers. The fuel distribution segment (Ipiranga) operates the distribution and sale of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants and related activities. The storage segment (Ultracargo) operates liquid bulk terminals. The digital payments segment (Abastece aí) offers digital payments services, combining the “abastece aí” app and the loyalty program “Km de Vantagens”. In 2022, Ultrapar has ceased to present abastece aí as a separate segment, due to the small relevance of this business relative to the overall results of the Company. The segments shown in the financial statements are strategic business units supplying different products and services. Intersegment sales are made considering the conditions negotiated between the parties. a. Financial information related to segments The main financial information of each of the continuing operations of the Company’s segments is as follows.
2023 |
Statement of income | Ipiranga |  |  | Ultragaz |  |  | Ultracargo |  |  | Others (1) (2) |  |  | Subtotal Segments |  |  | Eliminations |  |  | Total |
Net revenue from sales and services | 114,374,621 |  |  | 10,670,793 |  |  | 1,015,564 |  |  | 478,994 |  |  | 126,539,972 |  |  | (491,271 | ) |  | 126,048,701 |
Transactions with third parties | 114,087,604 |  |  | 10,669,365 |  |  | 815,249 |  |  | 476,483 |  |  | 126,048,701 |  |  | - |  |  | 126,048,701 |
Intersegment transactions | 287,017 |  |  | 1,428 |  |  | 200,315 |  |  | 2,511 |  |  | 491,271 |  |  | (491,271 | ) |  | - |
Cost of products and services sold | (107,929,732 | ) |  | (8,485,215 | ) |  | (355,798 | ) |  | (426,256 | ) |  | (117,197,001 | ) |  | 466,532 |  |  | (116,730,469 | )
Gross profit | 6,444,889 |  |  | 2,185,578 |  |  | 659,766 |  |  | 52,738 |  |  | 9,342,971 |  |  | (24,739 | ) |  | 9,318,232 |
Operating income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing | (1,606,134 | ) |  | (626,554 | ) |  | (11,395 | ) |  | (9,143 | ) |  | (2,253,226 | ) |  | ‐ |  |  | (2,253,226 | )
General and administrative | (1,208,306 | ) |  | (298,171 | ) |  | (167,344 | ) |  | (369,077 | ) |  | (2,042,898 | ) |  | 24,739 |  |  | (2,018,159 | )
Gain (loss) on disposal of property, plant and equipment and intangible assets | 169,276 |  |  | 13,199 |  |  | 103 |  |  | (1,587 | ) |  | 180,991 |  |  | (59,056 | ) |  | 121,935 |
Other operating income (expenses), net | (658,614 | ) |  | 20,191 |  |  | 2,335 |  |  | 33,223 |  |  | (602,865 | ) |  | ‐ |  |  | (602,865 | )
Operating income (loss) | 3,141,111 |  |  | 1,294,243 |  |  | 483,465 |  |  | (293,846 | ) |  | 4,624,973 |  |  | (59,056 | ) |  | 4,565,917 |
Share of profit (loss) of subsidiaries, joint ventures and associates | (7,508 | ) |  | 26 |  |  | 11,764 |  |  | 7,626 |  |  | 11,908 |  |  | ‐ |  |  | 11,908 |
Income (loss) before financial result and income and social contribution taxes | 3,133,603 |  |  | 1,294,269 |  |  | 495,229 |  |  | (286,220 | ) |  | 4,636,881 |  |  | (59,056 | ) |  | 4,577,825 |
Depreciation of PP&E and amortization of intangible assets | 404,831 |  |  | 291,462 |  |  | 105,274 |  |  | 39,302 |  |  | 840,869 |  |  | (492 | ) |  | 840,377 |
Amortization of contractual assets with customers - exclusivity rights | 606,036 |  |  | 1,410 |  |  | ‐ |  |  | ‐ |  |  | 607,446 |  |  | ‐ |  |  | 607,446 |
Amortization of right-of-use assets | 209,994 |  |  | 61,124 |  |  | 30,454 |  |  | 4,327 |  |  | 305,899 |  |  | ‐ |  |  | 305,899 |
Total depreciation and amortization | 1,220,861 |  |  | 353,996 |  |  | 135,728 |  |  | 43,629 |  |  | 1,754,214 |  |  | (492 | ) |  | 1,753,722 |
2022 |
Statement of income | Ipiranga |  |  | Ultragaz |  |  | Ultracargo |  |  | Others (1) (2) |  |  | Subtotal Segments |  |  | Eliminations |  |  | Total |
Net revenue from sales and services | 131,337,966 |  |  | 11,483,398 |  |  | 867,148 |  |  | 218,770 |  |  | 143,907,282 |  |  | (272,574 | ) |  | 143,634,708 |
Transactions with third parties | 131,253,637 |  |  | 11,480,697 |  |  | 684,350 |  |  | 216,024 |  |  | 143,634,708 |  |  | - |  |  | 143,634,708 |
Intersegment transactions | 84,329 |  |  | 2,701 |  |  | 182,798 |  |  | 2,746 |  |  | 272,574 |  |  | (272,574 | ) |  | - |
Cost of products and services sold | (126,569,490 | ) |  | (9,446,354 | ) |  | (340,621 | ) |  | (185,914 | ) |  | (136,542,379 | ) |  | 266,122 |  |  | (136,276,257 | )
Gross profit | 4,768,476 |  |  | 2,037,044 |  |  | 526,527 |  |  | 32,856 |  |  | 7,364,903 |  |  | (6,452 | ) |  | 7,358,451 |
Operating income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing | (1,552,636 | ) |  | (576,087 | ) |  | (12,701 | ) |  | (561 | ) |  | (2,141,985 | ) |  | ‐ |  |  | (2,141,985 | )
General and administrative | (828,753 | ) |  | (257,315 | ) |  | (134,208 | ) |  | (320,657 | ) |  | (1,540,933 | ) |  | 6,452 |  |  | (1,534,481 | )
Gain (loss) on disposal of property, plant and equipment and intangible assets | 168,709 |  |  | (1,381 | ) |  | (887 | ) |  | 2,848 |  |  | 169,289 |  |  | ‐ |  |  | 169,289 |
Other operating income (expenses), net | (525,966 | ) |  | 6,235 |  |  | 3,330 |  |  | 1,879 |  |  | (514,522 | ) |  | ‐ |  |  | (514,522 | )
Operating income | 2,029,830 |  |  | 1,208,496 |  |  | 382,061 |  |  | (283,635 | ) |  | 3,336,752 |  |  | ‐ |  |  | 3,336,752 |
Share of profit (loss) of subsidiaries, joint ventures and associates | (10,052 | ) |  | 13 |  |  | (3,880 | ) |  | 26,100 |  |  | 12,181 |  |  | ‐ |  |  | 12,181 |
Income (loss) before financial result and income and social contribution taxes | 2,019,778 |  |  | 1,208,509 |  |  | 378,181 |  |  | (257,535 | ) |  | 3,348,933 |  |  | ‐ |  |  | 3,348,933 |
Depreciation of PP&E and amortization of intangible assets | 353,962 |  |  | 239,204 |  |  | 94,337 |  |  | 44,738 |  |  | 732,241 |  |  | ‐ |  |  | 732,241 |
Amortization of contractual assets with customers - exclusivity rights | 503,751 |  |  | 1,502 |  |  | - |  |  | ‐ |  |  | 505,253 |  |  | (346 | ) |  | 504,907 |
Amortization of right-of-use assets | 191,178 |  |  | 56,177 |  |  | 37,124 |  |  | 3,940 |  |  | 288,419 |  |  | ‐ |  |  | 288,419 |
Total depreciation and amortization | 1,048,891 |  |  | 296,883 |  |  | 131,461 |  |  | 48,678 |  |  | 1,525,913 |  |  | (346 | ) |  | 1,525,567 |
| 2021 |
Income | Ipiranga |  |  | Ultragaz |  |  | Ultracargo |  |  | Abastece aí |  |  | Subtotal |  |  | Others (1) (2) |  |  | Elimination |  |  | Total |
Net revenue from sales and services | 99,382,617 |  |  | 9,744,659 |  |  | 713,096 |  |  | 84,733 |  |  | 109,925,105 |  |  | 22,452 |  |  | (214,715 | ) |  | 109,732,842 |
Transactions with third parties | 99,382,547 |  |  | 9,740,657 |  |  | 518,762 |  |  | 84,733 |  |  | 109,726,699 |  |  | 6,143 |  |  | - |  |  | 109,732,842 |
Intersegment transactions | 70 |  |  | 4,002 |  |  | 194,334 |  |  | - |  |  | 198,406 |  |  | 16,309 |  |  | (214,715) |  |  | - |
Cost of products and services sold | (96,110,408 | ) |  | (8,626,340 | ) |  | (285,406 | ) |  | - |  |  | (105,022,154 | ) |  | 70 |  |  | 194,118 |  |  | (104,827,966 | )
Gross profit | 3,272,209 |  |  | 1,118,319 |  |  | 427,690 |  |  | 84,733 |  |  | 4,902,951 |  |  | 22,522 |  |  | (20,597 | ) |  | 4,904,876 |
Operating income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling and marketing | (1,409,350 | ) |  | (438,697 | ) |  | (9,213 | ) |  | (71,345 | ) |  | (1,928,605 | ) |  | (6,184 | ) |  | - |  |  | (1,934,789 | )
Loss allowance (reversion) for expected credit losses | 23,536 |  |  | (20,482 | ) |  | 69 |  |  | - |  |  | 3,123 |  |  | - |  |  | - |  |  | 3,123 |
General and administrative | (846,441) |  |  | (202,002 | ) |  | (127,117 | ) |  | (113,544 | ) |  | (1,289,104 | ) |  | (198,044 | ) |  | 20,597 |  |  | (1,466,551 | )
Gain (loss) on disposal of property, plant and equipment and intangibles | 183,862 |  |  | 2,138 |  |  | (1,754 | ) |  | (9 | ) |  | 184,237 |  |  | (48 | ) |  | - |  |  | 184,189 |
Other operating income, net | 74,574 |  |  | 10,976 |  |  | 3,876 |  |  | 5,159 |  |  | 94,585 |  |  | 1,581 |  |  | - |  |  | 96,166 |
Operating income (loss) | 1,298,390 |  |  | 470,252 |  |  | 293,551 |  |  | (95,006 | ) |  | 1,967,187 |  |  | (180,173 | ) |  | - |  |  | 1,787,014 |
Share of profit (loss) of subsidiaries, joint ventures and associates | (859 | ) |  | (104 | ) |  | 602 |  |  | - |  |  | (361 | ) |  | (17,273 | ) |  | - |  |  | (17,634 | )
Operating income before finance income (expenses) and income and social contribution taxes | 1,297,531 |  |  | 470,148 |  |  | 294,153 |  |  | (95,006 | ) |  | 1,966,826 |  |  | (197,446 | ) |  | - |  |  | 1,769,380 |
Depreciation of PP&E and amortization of intangible assets charges | 325,942 |  |  | 211,014 |  |  | 76,421 |  |  | 14,365 |  |  | 627,742 |  |  | 25,376 |  |  | - |  |  | 653,118 |
Amortization of contractual assets with customers – exclusive rights | 280,975 |  |  | 1,546 |  |  | - |  |  | - |  |  | 282,521 |  |  | - |  |  | - |  |  | 282,521 |
Amortization of right-of-use assets | 182,245 |  |  | 46,579 |  |  | 25,440 |  |  | 267 |  |  | 254,531 |  |  | 6,185 |  |  | - |  |  | 260,716 |
Total of depreciation and amortization | 789,162 |  |  | 259,139 |  |  | 101,861 |  |  | 14,632 |  |  | 1,164,794 |  |  | 31,561 |  |  | - |  |  | 1,196,355 |
(1) | Includes in the line “General and administrative and Revenue from sale of goods” the amount of R$ 167,929 in 2023 (R$ 157,621 in 2022 and R$ 154,640 in 2021) of expenses related to Ultrapar's holding structure.
(2) | The “Others” column refers to the parent Ultrapar and the subsidiaries Abastece Aí, Millenium, Serma, Imaven Imóveis Ltda. (“Imaven”), Ultrapar International, Ultrapar Empreendimentos, UVC Investimentos, UVC - Fundo de investimento and share of profit (loss) of joint venture RPR. In 2022 the Company ceased to present Abastece Aí as a separate segment, including its balance in the “Others” column.
12/31/2023 |
Item - Cash flows | Ipiranga |  |  | Ultragaz |  |  | Ultracargo |  |  | Others(3) |  |  | Subtotal Segments |  |  | Eliminations |  |  | Total |
Acquisition of property, plant and equipment | 459,558 |  |  | 376,312 |  |  | 292,653 |  |  | 15,134 |  |  | 1,143,657 |  |  | (131,018 | ) |  | 1,012,639 |
Capitalized interest and other items included in property, plant and equipment and provision for ARO | 35,412 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | 35,412 |  |  | ‐ |  |  | 35,412 |
Acquisition of intangible assets | 168,547 |  |  | 56,540 |  |  | 1,060 |  |  | 56,041 |  |  | 282,188 |  |  | (7,497 | ) |  | 274,691 |
Payments of contractual assets with customers - exclusivity rights | 597,798 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | 597,798 |  |  | ‐ |  |  | 597,798 |
Decarbonization credits (note 14) | 778,496 |  |  | ‐ |  |  | ‐ |  |  | 389 |  |  | 778,885 |  |  | ‐ |  |  | 778,885 |
12/31/2022 |
Item - Cash flows | Ipiranga |  |  | Ultragaz |  |  | Ultracargo |  |  | Others (3) |  |  | Subtotal Segments |  |  | Eliminations |  |  | Total |
Acquisition of property, plant and equipment | 427,861 |  |  | 318,750 |  |  | 175,984 |  |  | 6,641 |  |  | 929,236 |  |  | ‐ |  |  | 929,236 |
Capitalized interest and other items included in property, plant and equipment and provision for ARO | 32,628 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | 32,628 |  |  | ‐ |  |  | 32,628 |
Acquisition of intangible assets | 194,385 |  |  | 38,876 |  |  | 9,125 |  |  | 35,214 |  |  | 277,600 |  |  | ‐ |  |  | 277,600 |
Payments of contractual assets with customers - exclusivity rights | 769,119 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | 769,119 |  |  | ‐ |  |  | 769,119 |
Decarbonization credits (note 14) | 635,130 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | 635,130 |  |  | ‐ |  |  | 635,130 |
12/31/2021 |
Item - Cash flows | Ipiranga |  |  | Ultragaz |  |  | Ultracargo |  |  | Abastece aí |  |  | Others(3) |  |  | Subtotal Segments |  |  | Eliminations |  |  | Total |
Acquisition of property, plant and equipment | 386,693 |  |  | 336,871 |  |  | 298,272 |  |  | 636 |  |  | 5,947 |  |  | 1,028,419 |  |  | ‐ |  |  | 1,028,419 |
Capitalized interest and other items included in property, plant and equipment and provision for ARO | 7,683 |  |  | ‐ |  |  | 2,782 |  |  |  |  |  | ‐ |  |  | 10,465 |  |  | ‐ |  |  | 10,465 |
Acquisition of intangible assets | 156,498 |  |  | 30,150 |  |  | 15,819 |  |  | 34,824 |  |  | 197 |  |  | 237,488 |  |  | ‐ |  |  | 237,488 |
Payments of contractual assets with customers - exclusivity rights | 420,261 |  |  | ‐ |  |  | ‐ |  |  |  |  |  | ‐ |  |  | 420,261 |  |  | ‐ |  |  | 420,261 |
Decarbonization credits (note 16) | 176,837 |  |  | ‐ |  |  | ‐ |  |  |  |  |  | ‐ |  |  | 176,837 |  |  | ‐ |  |  | 176,837 |
12/31/2023 |
Assets | Ipiranga |  |  | Ultragaz |  |  | Ultracargo |  |  | Others (3) |  |  | Subtotal Segments |  |  | Total |
Total assets (excluding intersegment transactions) | 25,042,098 |  |  | 4,144,983 |  |  | 3,233,270 |  |  | 5,831,623 |  |  | 38,251,974 |  |  | 38,251,974 |
12/31/2022 |
Assets | Ipiranga |  |  | Ultragaz |  |  | Ultracargo |  |  | Others (3) |  |  | Subtotal Segments |  |  | Total |
Total assets (excluding intersegment transactions) | 23,342,826 |  |  | 4,281,857 |  |  | 3,045,407 |  |  | 5,770,913 |  |  | 36,441,003 |  |  | 36,441,003 |
(3) | The “Others” column comprises the parent Ultrapar (including goodwill from certain acquisitions) and the subsidiaries Abastece Aí, Millenium, Serma, Imaven, Ultrapar International, UVC Investimentos and UVC - Fundo de investimento.
b. Geographic area information The subsidiaries generate revenue from operations in Brazil, as well as from exports of products and services to foreign customers, as disclosed below:
| 2023 |  |  | 2022 |  |  | 2021 |
Net revenue from sales and services: |  |  |  |  |  |  |  |
Brazil | 124,400,378 |  |  | 140,801,146 |  |  | 109,598,146 |
United States of America and Canada | 1,084,594 |  |  | 1,785,413 |  |  | 35,279 |
Other Latin American countries | 204,306 |  |  | 73,351 |  |  | 69,523 |
Europe | 202,665 |  |  | 607,416 |  |  | 18,876 |
Asia and Others | 156,758 |  |  | 367,382 |  |  | 11,018 |
Total | 126,048,701 |  |  | 143,634,708 |  |  | 109,732,842 |

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