6-K 1 MainDocument.htm 6-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report Of Foreign Private Issuer

 

Pursuant To Rule 13a-16 Or 15d-16 Of

 

The Securities Exchange Act Of 1934

 

For the month of August, 2020

 

Commission File Number: 001-14950

 

ULTRAPAR HOLDINGS INC.

(Translation of Registrant’s Name into English)

 

Brigadeiro Luis Antonio Avenue, 1343, 9th Floor

São Paulo, SP, Brazil 01317-910

(Address of Principal Executive Offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ____X____                                                         Form 40-F ________

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

 

Yes ________                                                                       No ____X____

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

 

Yes ________                                                                       No ____X____

  





ULTRAPAR HOLDINGS INC.

TABLE OF CONTENTS

 

ITEM

  1. Parent and Consolidated Interim Financial Information as of and the Three-month period Ended June 30, 2020 and Report on Review of Interim Financial Information
  2. 2Q20 Earnings Release
  3. Board of Directors minutes 
  4. Notice to shareholders

 

 





(Convenience Translation into English from

the Original Previously Issued in Portuguese)

 

 

Ultrapar Participações S.A.

 

 

Parent’s Separate and Consolidated

Interim Financial Information

as of and the Three-month period

Ended June 30, 2020 and

Report on Review of Interim

Financial Information

 

 

 

KPMG Auditores Independentes

 


 

Ultrapar Participações S.A. and Subsidiaries

Parent’s Separate and Consolidated

Interim Financial Information

As of and the Three-month period Ended June 30, 2020


Table of Content


Report on the Review of Quarterly Information 3-4
Statements of Financial Position 5-6
Statements of Profit or Loss 7-8
Statements of Comprehensive Income 9-10
Statements of Changes in Equity 11-12
Statements of Cash Flows - Indirect Method 13-14
Statements of Value Added 15
Notes to the Interim Financial Information 16-129


 


(Convenience Translation into English from the Original Previously Issued in Portuguese)

 

Report on the Review of quarterly Information—ITR

 

To the Shareholders, Directors and Management of

Ultrapar Participações S.A.

São Paulo, SP


Introduction

We have reviewed the accompanying individual and consolidated interim financial information of Ultrapar Participações S.A. (“Company”), comprised in the Quarterly Financial Information - ITR Form for the quarter ended June 30, 2020, which comprise the statements of financial position as of June 30, 2020 and related statements of income, comprehensive income for the three and six-month period then ended and changes in shareholder´s equity and cash flows for the six-month  period then ended, including explanatory notes.

The Company´s Management is responsible for the preparation of the interim financial information in accordance with Technical Pronouncement CPC 21 (R1)  Interim Financial Information and with International Standard IAS 34 – Interim Financial Reporting, issued by the International Accounting Standards Board - IASB, such as for the presentation of these information in a manner consistent with the standards issued by the Brazilian Securities and Exchange Commission, applicable to the preparation of the Quarterly Financial Information - ITR.  Our responsibility is to express a conclusion on these interim financial information based on our review. 

Scope of Review

Our review was conducted in accordance with the Brazilian and International Review Standards of interim information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures.  A review is substantially less in scope than an audit conducted in accordance with the auditing standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 

Conclusion on the individual and consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the individual and consolidated interim financial information included in the quarterly information referred to above was not prepared, in all material respects, in accordance with CPC 21 (R1) and IAS 34, issued by the Accounting Committee and by IASB applicable to the preparation of Quarterly Financial Information – ITR and presented in accordance with the standards issued by the Brazilian Securities Exchange Commission - CVM.


Other matters

Interim statements of value added

The individual and consolidated interim statements of value added (DVA) for the six-month period ended June 30, 2020, prepared under the responsibility of the Company's management, and presented as supplementary information for the purposes of IAS 34, were submitted to the same review procedures followed together with the review of the Company's interim financial information. In order to form our conclusion, we evaluated whether these statements are reconciled to the interim financial information and to the accounting records, as applicable, and whether their form and content are in accordance with the criteria set on Technical Pronouncement CPC 09 - Statement of Value Added. Based on our review, nothing has come to our attention that causes us to believe that the accompanying statements of value added are not prepared, in all material respects, according to the criteria defined in this Standard and consistently in accordance with the individual and consolidated interim financial information taken as a whole.


São Paulo, August 12, 2020


KPMG Auditores Independentes
CRC 2SP014428/O-6

Original report in Portuguese signed by
Marcio Serpejante Peppe
Accountant CRC 1SP233011/O-8



Ultrapar Participações S.A. and Subsidiaries

As of June 30, 2020 and December 31, 2019

(In thousands of Brazilian Reais) 

 

 

Parent

 

Consolidated

Assets

Note

06/30/2020

 

12/31/2019

 

06/30/2020

 

12/31/2019

Current assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

4.a

1,015,432

 

42,580

 

3,805,191

 

2,115,379

Financial investments and hedging instruments

4.b

53,101

 

95,829

 

3,174,857

 

3,090,212

Trade receivables

5.a

200

 

-

 

3,008,662

 

3,635,834

Reseller financing

5.b

-

 

-

 

496,946

 

436,188

Inventories

6

-

 

-

 

2,970,181

 

3,715,560

Recoverable taxes

7.a

-

 

-

 

1,039,200

 

1,122,335

Recoverable income and social contribution taxes

7.b

53,280

 

49,750

 

436,907

 

325,343

Dividends receivable

 

213

 

3,074

 

721

 

3,630

Other receivables

 

27,864

 

6,321

 

86,580

 

36,765

Prepaid expenses

10

2,855

 

72

 

158,162

 

111,355

Contractual assets with customers – exclusive rights

11

-

 

-

 

472,985

 

465,454

      Total current assets

 

1,152,945

 

197,626

 

15,650,392

 

15,058,055

Non-current assets

 

 

 

 

 

 

 

 

Financial investments and hedging instruments

4.b

-

 

-

 

1,467,475

 

506,506

Trade receivables

5.a

-

 

-

 

86,590

 

53,666

Reseller financing

5.b

-

 

-

 

384,095

 

364,748

Related parties

8.a

755,433

 

759,123

 

490

 

490

Deferred income and social contribution taxes

9.a

44,875

 

41,613

 

1,016,599

 

653,694

Recoverable taxes

7.a

-

 

-

 

1,045,787

 

767,360

Recoverable income and social contribution taxes

7.b

39,447

 

39,447

 

103,346

 

104,947

Escrow deposits

22.a

2

 

17

 

949,745

 

921,443

Indemnification asset – business combination

22.c

-

 

-

 

193,444

 

193,496

Other receivables

 

-

 

-

 

3,298

 

3,430

Prepaid expenses

10

1,987

 

255

 

87,761

 

69,216

Contractual assets with customers – exclusive rights

11

-

 

-

 

1,127,439

 

1,000,535

      Total long term assets

 

841,744

 

840,455

 

6,466,069

 

4,639,531

  Investments

 

 

 

 

 

 

 

 

  In subsidiaries

12.a

9,745,342

 

10,058,456

 

-

 

-

  In joint-ventures

12.a; 12.b

-

 

18,792

 

138,356

 

153,076

  In associates

12.c

-

 

-

 

25,451

 

25,750

  Other

 

-

 

-

 

2,793

 

2,793

 

 

9,745,342

 

10,077,248

 

166,600

 

181,619

Right to use assets

13

36,664

 

5,799

 

2,135,455

 

1,980,912

Property, plant, and equipment

14

11,566

 

2,532

 

7,899,251

 

7,572,762

Intangible assets

15

251,776

 

246,163

 

1,770,450

 

1,762,593

Total non-current assets

 

10,887,092

 

11,172,197

 

18,437,825

 

16,137,417

Total assets

 

12,040,037

 

11,369,823

 

34,088,217

 

31,195,472

 The accompanying notes are an integral part of the interim financial information.

Ultrapar Participações S.A. and Subsidiaries

Statements of Financial Position

As of June 30, 2020 and December 31, 2019

(In thousands of Brazilian Reais)

 

 

Parent

 

Consolidated

Liabilities

Note

06/30/2020

 

12/31/2019

 

06/30/2020

 

12/31/2019

Current liabilities

 

 

 

 

 

 

 

 

  Loans, financing and hedge derivative financial instruments

16

1,009,997

 

-

 

2,335,101

 

867,871

  Debentures

16.g

17,743

 

28,713

 

262,115

 

249,570

  Trade payables

17

5,928

 

2,173

 

1,758,616

 

2,158,478

  Trade payables – reverse factoring

17

-

 

-

 

779,678

 

541,593

  Salaries and related charges

18

29,154

 

958

 

439,069

 

405,636

  Taxes payable

19

946

 

389

 

230,881

 

269,922

  Dividends payable

25.h

16,155

 

14,689

 

17,895

 

16,694

  Income and social contribution taxes payable

 

-

 

-

 

85,701

 

164,757

  Post-employment benefits

20.b

-

 

-

 

29,728

 

28,951

  Provision for asset retirement obligation

21

-

 

-

 

4,283

 

3,847

  Provision for tax, civil, and labor risks

22.a

-

 

-

 

42,096

 

40,455

  Leases payable

13

4,271

 

144

 

238,543

 

206,396

  Other payables

 

1,689

 

3

 

234,872

 

213,273

  Deferred revenue

23

-

 

-

 

26,383

 

27,626

      Total current liabilities

 

1,085,883

 

47,069

 

6,484,961

 

5,195,069

Non-current liabilities

 

 

 

 

 

 

 

 

  Loans, financing and hedge derivative financial instruments

16

-

 

-

 

8,951,792

 

6,907,113

  Debentures

16.g

1,723,739

 

1,723,368

 

6,215,164

 

6,368,168

  Related parties

8.a

5,001

 

4,220

 

3,877

 

3,925

  Deferred income and social contribution taxes

9.a

-

 

-

 

33,696

 

7,531

  Post-employment benefits

20.b

6,515

 

-

 

247,064

 

243,916

  Provision for asset retirement obligation

21

-

 

-

 

46,008

 

47,395

  Provision for tax, civil, and labor risks

22.a; 22.c

280

 

399

 

846,728

 

884,140

  Leases payable

13

34,711

 

5,855

 

1,536,733

 

1,382,277

  Subscription warrants – indemnification

24

63,063

 

130,657

 

63,063

 

130,657

  Provision for short-term liabilities of joint venture

12.a; 12.b

792

 

-

 

792

 

-

  Other payables

 

3,634

 

-

 

150,346

 

190,106

      Total non-current liabilities

 

1,837,735

 

1,864,499

 

18,095,263

 

16,165,228

Equity

 

 

 

 

 

 

 

 

  Share capital

25.a; 25.f

5,171,752

 

5,171,752

 

5,171,752

 

5,171,752

  Equity instrument granted

25.b

15,440

 

11,970

 

15,440

 

11,970

  Capital reserve

25.d

595,472

 

542,400

 

595,472

 

542,400

  Treasury shares

25.c

(485,383)

 

(485,383)

 

(485,383)

 

(485,383)

  Revaluation reserve on subsidiaries

25.e

4,429

 

4,522

 

4,429

 

4,522

  Profit reserves

25.f

3,995,414

 

3,995,414

 

3,995,414

 

3,995,414

  Retained earnings

 

201,543

 

-

 

201,543

 

-

  Valuation adjustments

25.g.1

(620,797)

 

(146,317)

 

(620,797)

 

(146,317)

  Cumulative translation adjustments

25.g.2

238,549

 

102,427

 

238,549

 

102,427

  Additional dividends to the minimum mandatory dividends

25.h

-

 

261,470

 

-

 

261,470

      Equity attributable to:

 

 

 

 

 

 

 

 

       Shareholders of the Company

 

9,116,419

 

9,458,255

 

9,116,419

 

9,458,255

       Non-controlling interests in subsidiaries

 

-

 

-

 

391,574

 

376,920

      Total equity

 

9,116,419

 

9,458,255

 

9,507,993

 

9,835,175

       Total liabilities and equity

 

12,040,037

 

11,369,823

 

34,088,217

 

31,195,472

The accompanying notes are an integral part of the interim financial information.

Ultrapar Participações S.A. and Subsidiaries

 

For the six-month period ended June 30, 2020 and 2019

(In thousands of Brazilian Reais, except earnings per share)

 

 

 

Parent

 

Consolidated

 

Note

06/30/2020

 

06/30/2019

 

06/30/2020

 

06/30/2019

Net revenue from sales and services

26

-

 

-

 

37,263,372

 

42,431,898

    Cost of products and services sold

27

-

 

-

 

(34,802,194)

 

(39,581,566)

Gross profit

 

-

 

-

 

2,461,178

 

2,850,332

 

 

 

 

 

 

 

 

 

Operating income (expenses)

 

 

 

 

 

 

 

 

    Selling and marketing

27

-

 

-

 

(1,196,737)

 

(1,309,419)

    Expected losses on doubtful accounts

 

-

 

-

 

(56,516)

 

(65,640)

    General and administrative

27

-

 

-

 

(703,121)

 

(799,474)

    Gain (loss) on disposal of property, plant and equipment and intangibles

28

-

 

-

 

20,910

 

(1,055)

    Other operating income, net

29

556

 

420

 

160,154

 

46,820

 

 

 

 

 

 

 

 

 

Operating income before financial income (expenses) and share of profit (loss) of subsidiaries, joint ventures and associates

 

556

 

420

 

685,868

 

721,564

    Share of profit (loss) of subsidiaries, joint ventures and associates

12

218,142

 

324,557

 

(25,698)

 

(10,048)

Operating income before financial income (expenses) and income and social contribution taxes

 

218,698

 

324,977

 

660,170

 

711,516

    Financial income

30

31,769

 

76,339

 

235,164

 

276,288

    Financial expenses

30

(51,633)

 

(59,463)

 

(483,122)

 

(367,636)

      Financial result, net


(19,864)

 

16,876

 

(247,958)

 

(91,348)

Income before income and social contribution taxes

 

198,834

 

341,853

 

412,212

 

620,168

Income and social contribution taxes

 

 

 

 

 

 

 

 

    Current

9.b; 9.c

(170)

 

-

 

(219,632)

 

(259,448)

    Deferred

9.b

3,261

 

409

 

26,314

 

2,566

 

 

3,091

 

409

 

(193,318)

 

(256,882)

Net income for the period

 

201,925

 

342,262

 

218,894

 

363,286

    Shareholders of the Company

 

201,925

 

342,262

 

201,925

 

342,262

    Non-controlling interests in subsidiaries

 

-

 

-

 

16,969

 

21,024

Earnings per share (based on weighted average number of shares outstanding) – R$

 

 

 

 

 

 

 

 

    Basic

31

0.1856

 

0.3156

 

0.1856

 

0.3156

    Diluted

31

0.1845

 

0.3138

 

0.1845

 

0.3138

 

The accompanying notes are an integral part of the interim financial information.



Ultrapar Participações S.A. and Subsidiaries

 

Statements of Profit or Loss 

For the three-month period ended June 30, 2020 and 2019

(In thousands of Brazilian Reais, except earnings per share)

 

 

 

Parent

 

Consolidated

 

Note

06/30/2020

 

06/30/2019

 

06/30/2020

 

06/30/2019

Net revenue from sales and services

26

-

 

-

 

15,876,234

 

21,692,645

    Cost of products and services sold

27

-

 

-

 

(14,825,003)

 

(20,286,893)

Gross profit

 

-

 

-

 

1,051,231

 

1,405,752

Operating income (expenses)

 

 

 

 

 

 

 

 

    Selling and marketing

27

-

 

-

 

(582,106)

 

(602,724)

    Expected losses on doubtful accounts

 

-

 

-

 

(26,241)

 

(93,833)

    General and administrative

27

-

 

-

 

(293,240)

 

(415,629)

    Loss on disposal of property, plant and equipment and intangibles

28

-

 

-

 

13,972

 

1,027

    Other operating income, net

29

801

 

(11)

 

36,215

 

10,107

 

 

 

 

 

 

 

 

 

Operating income before financial income (expenses) and share of profit (loss) of subsidiaries, joint ventures and associates

 

801

 

(11)

 

199,831

 

304,700

    Share of profit (loss) of subsidiaries, joint ventures and associates

12

63,293

 

98,860

 

(13,270)

 

(3,078)

Operating income before financial income (expenses) and income and social contribution taxes

 

64,094

 

98,849

 

186,561

 

301,622

    Financial income

30

(2,365)

 

35,172

 

53,113

 

132,139

    Financial expenses

30

(30,580)

 

(30,318)

 

(133,441)

 

(224,315)

      Financial result, net

(32,945)

 

4,854

 

(80,328)

 

(92,176)

Income before income and social contribution taxes

 

31,149

 

103,703

 

106,233

 

209,446

Income and social contribution taxes

 

 

 

 

 

 

 

 

    Current

9.b; 9.c

-

 

-

 

(111,343)

 

(120,061)

    Deferred

9.b

9,917

 

4,898

 

55,138

 

31,348

 

 

9,917

 

4,898

 

(56,205)

 

(88,713)

Net income for the period

 

41,066

 

108,601

 

50,028

 

120,733

    Shareholders of the Company

 

41,066

 

108,601

 

41,066

 

108,601

    Non-controlling interests in subsidiaries

 

-

 

-

 

8,962

 

12,132

Earnings per share (based on weighted average number of shares outstanding) – R$

 

 

 

 

 

 

 

 

    Basic

31

0.0377

 

0.0948

 

0.0377

 

0.0948

    Diluted

31

0.0375

 

0.0996

 

0.0375

 

0.0996

 

The accompanying notes are an integral part of the interim financial information.



Ultrapar Participações S.A. and Subsidiaries

For the six-month period ended June 30, 2020 and 2019

(In thousands of Brazilian Reais)

 

 

Note

Parent

 

Consolidated

 

 

06/30/2020

 

06/30/2019

 

06/30/2020

 

06/30/2019

Net income for the period

 

201,925

 

342,262

 

218,894

 

363,286

Items that are subsequently reclassified to profit or loss:

 

 

 

 

 

 

 

 

  Fair value adjustments of financial instruments, net

25.g.1

432

 

(295)

 

432

 

(295)

  Fair value adjustments of financial instruments of subsidiaries, net

25.g.1

(476,773)

 

15,980

 

(476,773)

 

16,001

  Fair value adjustments of financial instruments of joint ventures, net

25.g.1

1,861

 

(2,367)

 

1,861

 

(2,367)

  Cumulative translation adjustments, net of hedge of net investments
in foreign operations and income and social contribution taxes

25.g.2

136,122

 

(5,886)

 

136,122

 

(5,886)

Items that are not subsequently reclassified to profit or loss:

 

 

 

 

 

 

 

 

Actuarial gain (losses) of post-employment benefits of subsidiaries, net

25.g.1

-

 

238

 

-

 

238

Total comprehensive income for the period

 

(136,433)

 

349,932

 

(119,464)

 

370,977

    Total comprehensive income for the period attributable to
shareholders of the Company

 

(136,433)

 

349,932

 

(136,433)

 

349,932

    Total comprehensive income for the period attributable to
non-controlling interest in subsidiaries

 

-

 

-

 

16,969

 

21,045


The accompanying notes are an integral part of the interim financial information



Ultrapar Participações S.A. and Subsidiaries

Statements of Comprehensive Income

For the three-month period ended June 30, 2020 and 2019

(In thousands of Brazilian Reais)

 

 

Note

Parent

 

Consolidated

 

 

06/30/2020

 

06/30/2019

 

06/30/2020

 

06/30/2019

Net income for the period

 

41,066

 

108,601

 

50,028

 

120,733

Items that are subsequently reclassified to profit or loss:

 

 

 

 

 

 

 

 

  Fair value adjustments of financial instruments, net

25.g.1

430

 

(301)

 

430

 

(301)

  Fair value adjustments of financial instruments of subsidiaries, net

25.g.1

(56,739)

 

21,906

 

(56,739)

 

21,906

  Fair value adjustments of financial instruments of joint ventures, net

25.g.1

(640)

 

(2,413)

 

(640)

 

(2,413)

  Cumulative translation adjustments, net of hedge of net investments
in foreign operations and income and social contribution taxes

25.g.2

14,248

 

(10,429)

 

14,248

 

(10,429)

Items that are not subsequently reclassified to profit or loss:

 

 

 

 

 

 

 

 

Actuarial gain (losses) of post-employment benefits of subsidiaries, net

25.g.1

-

 

-

 

-

 

-

Total comprehensive income for the period

 

(1,635)

 

117,364

 

7,327

 

129,496

    Total comprehensive income for the period attributable to shareholders of the Company

 

(1,635)

 

117,364

 

(1,635)

 

117,364

    Total comprehensive income for the period attributable to non-controlling interest in subsidiaries

 

-

 

-

 

8,962

 

12,132


The accompanying notes are an integral part of the interim financial information.


Ultrapar Participações S.A. and Subsidiaries

For the six-month period ended June 30, 2020 and 2019

(In thousands of Brazilian Reais)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit reserve

 

 

 

 

 

 

 

 

Equity attributable to:

 

 

 

Note

 

Share capital

 

Equity instrument granted

 

Capital reserve

 

Treasury shares

 

Revaluation reserve on subsidiaries

 

Legal

reserve

 

Investments statutory reserve

 

Valuation adjustments

 

Cumulative translation adjustments

 

Retained earnings

 

Additional dividends to the minimum mandatory dividends

 

Shareholders of the Company

 

Non-controlling interests in subsidiaries

 

Consolidated equity

Balance as of December 31, 2019

 

 

5,171,752

 

11,970

 

542,400

 

(485,383)

 

4,522

 

705,341

 

3,290,073

 

(146,317)

 

102,427

 

 

261,470

 

9,458,255

 

376,920

 

9,835,175

Net income for the period

 

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

201,925

 

-

 

201,925

 

16,969

 

218,894

Other comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value adjustments of available for financial instruments, net of income taxes

25.g.1

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

432

 

-

 

-

 

-

 

432

 

-

 

432

Fair value adjustments of available for financial instruments, net of income taxes (subsidiaries)

12.a; 25.g.1

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

(474,912)

 

-

 

-

 

-

 

(474,912)

 

-

 

(474,912)

Currency translation of foreign subsidiaries, including the effect of net investments hedge

25.g.2

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

136,122

 

-

 

-

 

136,122

 

-

 

136,122

Total comprehensive income for the period

 

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

(474,480)

 

136,122

 

201,925

 

-

 

(136,433)

 

16,969

 

(119,464)

Issuance of shares related to the subscription warrants - indemnification - Extrafarma acquisition

25.d

 

-

 

-

 

53,072

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

53,072

 

-

 

53,072

Equity instrument granted

25.b

 

-

 

2,189

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

2,189

 

-

 

2,189

Equity instrument granted (subsidiaries)

12.a; 25.b

 

-

 

1,281

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

1,281

 

-

 

1,281

Income and social contribution taxes on realization of revaluation reserve of subsidiaries

25.e

 

-

 

-

 

-

 

-

 

(93)

 

-

 

-

 

-

 

-

 

93

 

-

 

-

 

-

 

-

Loss due to the payments fixed dividends to preferred shares

 

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

(516)

 

-

 

(516)

 

516

 

-

Shareholder transaction - changes of investiments

 

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

41

 

-

 

41

 

(41)

 

-

Additional dividends attributable to non-controlling interests

 

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

(2,790)

 

(2,790)

Approval of additional dividends by the Shareholders’ Meeting

25.h

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

(261,470)

 

(261,470)

 

-

 

(261,470)

Balance as of June 30, 2020

 

 

5,171,752

 

15,440

 

595,472

 

(485,383)

 

4,429

 

705,341

 

3,290,073

 

(620,797)

 

238,549

 

201,543

 

 

9,116,419

 

391,574

 

9,507,993


The accompanying notes are an integral part of the interim financial information.



Ultrapar Participações S.A. and Subsidiaries

Statements of Changes in Equity

For the six-month period ended June 30, 2020 and 2019

(In thousands of Brazilian Reais)


 

 

 

 

 

 

 

 

 

 

 

 

 

Profit reserve

 

 

 

 

 

 

 

 

Equity attributable to:

 

 

 

Note

 

Share capital

 

Equity instrument granted

 

Capital reserve

 

Treasury shares

 

Revaluation reserve on subsidiaries

 

Legal

reserve 

 

Investments statutory reserve

 

Valuation adjustments

 

Cumulative translation adjustments

 

Retained earnings

 

Additional dividends to the minimum mandatory dividends

 

Shareholders of the Company

 

Non-controlling interests in subsidiaries

 

Consolidated equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2018

 

 

5,171,752

 

4,309

 

542,400

 

(485,383)

 

4,712

 

686,665

 

3,412,427

 

(63,989)

 

65,857

 

 

109,355

 

9,448,105

 

351,924

 

9,800,029

Net income for the period

 

 

 

 

 

 

 

 

 

 

 

342,262

 

 

342,262

 

21,024

 

363,286

Other comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value adjustments of available for financial instruments, net of income taxes

25.g.1

 

 

 

 

 

 

 

 

(295)

 

 

 

 

(295)

 

 

(295)

Fair value adjustments of available for financial instruments, net of income taxes (subsidiaries)

25.g.1

 

 

 

 

 

 

 

 

13,613

 

 

 

 

13,613

 

21

 

13,634

Actuarial gain of post-employment benefits, net of income taxes

25.g.1

 

 

 

 

 

 

 

 

238

 

 

 

 

238

 

 

238

Currency translation of foreign subsidiaries, including the effect of net investments hedge

25.g.2

 

 

 

 

 

 

 

 

 

(5,886)

 

 

 

(5,886)

 

 

(5,886)

Total comprehensive income for the period

 

 

 

 

 

 

 

 

 

13,556

 

(5,886)

 

342,262

 

 

349,932

 

21,045

 

370,977

Equity instrument granted

25.b

 

 

3,236

 

 

 

 

 

 

 

 

 

 

3,236

 

 

3,236

Shareholder transaction - gain in reimbursement of shares pref. B from Oxiteno Nordeste

 

 

 

 

 

 

 

 

 

 

 

208

 

 

208

 

(208)

 

Realization of revaluation reserve of subsidiaries

25.e

 

 

 

 

 

(97)

 

 

 

 

 

97

 

 

 

 

Income and social contribution taxes on realization of revaluation reserve of subsidiaries

25.e

 

 

 

 

 

 

 

 

 

 

(25)

 

 

(25)

 

 

(25)

Additional dividends attributable to non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,548)

 

(1,548)

Redemption of non-controlling shares of Oxiteno Nordeste

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,180)

 

(2,180)

Capital increase from Iconic non-controlling shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,996

 

6,996

Approval of additional dividends by the Shareholders’ Meeting

25.h

 

 

 

 

 

 

 

 

 

 

 

(109,355)

 

(109,355)

 

 

(109,355)

Balance as of June 30, 2019

 

 

5,171,752

 

7,545

 

542,400

 

(485,383)

 

4,615

 

686,665

 

3,412,427

 

(50,433)

 

59,971

 

342,542

 

 

9,692,101

 

376,029

 

10,068,130

 

The accompanying notes are an integral part of the interim financial information. 


Ultrapar Participações S.A. and Subsidiaries

As of June 30, 2020 and December 31, 2019

(In thousands of Brazilian Reais)


 

Note

Parent

 

Consolidated

 

 

06/30/2020

 

06/30/2019

 

06/30/2020

 

06/30/2019

Cash flows from operating activities

 

 

 

 

 

 

 

 

Net income for the period

 

201,925

 

342,262

 

218,894

 

363,286

Adjustments to reconcile net income to cash provided by operating activities

 

 

 

 

 

 

 

 

Share of loss (profit) of subsidiaries, joint ventures and associates

12

(218,142)

 

(324,557)

 

25,698

 

10,048

Amortization of contractual assets with customers – exclusive rights

11

-

 

-

 

150,854

 

177,818

Amortization of right to use assets

13.a

1,854

 

-

 

158,628

 

153,257

Depreciation and amortization

14; 15

971

 

-

 

458,512

 

416,867

PIS and COFINS credits on depreciation

14; 15

-

 

-

 

8,794

 

7,330

Interest and foreign exchange rate variations

 

36,030

 

(2,755)

 

614,526

 

547,849

Deferred income and social contribution taxes

9.b

(3,261)

 

(409)

 

(26,314)

 

(2,566)

(Loss) Gain on disposal of property, plant, and equipment and intangibles

28

-

 

-

 

(20,910)

 

1,055

Expected losses on doubtful accounts

5

-

 

-

 

56,516

 

65,637

Provision for losses in inventories

6

-

 

-

 

(1,800)

 

13,276

Provision for post-employment benefits

20.b

913

 

-

 

(2,896)

 

(3,299)

Equity instrument granted

8.c

2,191

 

-

 

3,471

 

3,237

Other provisions and adjustments

 

(219)

 

(4)

 

(2,214)

 

2,449

 

 

22,262

 

14,537

 

1,641,759

 

1,756,244

(Increase) decrease in current assets

 

 

 

 

 

 

 

 

Trade receivables and reseller financing

5

(200)

 

-

 

517,590

 

155,421

Inventories

6

-

 

-

 

752,595

 

77,310

Recoverable taxes

7

(3,530)

 

4,240

 

(28,429)

 

(138,899)

Dividends received from subsidiaries and joint ventures

 

219,442

 

1,303,209

 

4,718

 

3,729

Other receivables

 

(21,543)

 

(1,769)

 

(49,815)

 

(28,242)

Prepaid expenses

10

(2,783)

 

(111)

 

(74,316)

 

(13,617)

Increase (decrease) in current liabilities

 

 

 

 

 

 

 

 

Trade payables

17

3,755

 

181

 

(218,037)

 

(225,368)

Salaries and related charges

18

28,196

 

700

 

33,433

 

(58,869)

Taxes payable

19

557

 

(10,970)

 

(39,041)

 

(38,782)

Income and social contribution taxes

 

-

 

(9,238)

 

(20,917)

 

122,922

Post-employment benefits

20.b

-

 

-

 

777

 

(2,497)

Provision for tax, civil, and labor risks

22.a

-

 

-

 

1,641

 

13,594

Other payables

 

1,686

 

(2,433)

 

20,082

 

64,399

Deferred revenue

23

-

 

-

 

(1,243)

 

9,666

(Increase) decrease in non-current assets

 

 

 

 

 

 

 

 

Trade receivables and reseller financing

5

-

 

-

 

(52,271)

 

54,730

Recoverable taxes

7

-

 

9,238

 

(276,826)

 

15,392

Escrow deposits

 

15

 

-

 

(28,302)

 

(31,044)

Other receivables

 

-

 

-

 

184

 

(14)

Prepaid expenses

10

(1,732)

 

5

 

(14,578)

 

(18,463)


The accompanying notes are an integral part of the interim financial information.



Ultrapar Participações S.A. and Subsidiaries

Statements of Cash Flows - Indirect Method

For the six-month period ended June 30, 2020 and 2019

(In thousands of Brazilian Reais)


 

 

Parent

 

Consolidated

 

 

06/30/2020

 

06/30/2019

 

06/30/2020

 

06/30/2019

Increase (decrease) in non-current liabilities

 

 

 

 

 

 

 

 

Post-employment benefits

20.b

5,602

 

-

 

6,044

 

1,838

Provision for tax, civil, and labor risks

22.a; 22.c

(119)

 

(399)

 

(37,412)

 

(16,405)

Other payables

 

4,415

 

314

 

(40,167)

 

32,500

Deferred revenue

23

-

 

-

 

-

 

(2,129)

Payments of contractual assets with customers – exclusive rights

11

-

 

-

 

(236,579)

 

(126,334)

Income and social contribution taxes paid

 

-

 

-

 

(58,139)

 

(79,836)

Net cash provided by operating activities

 

256,023

 

1,307,504

 

1,802,751

 

1,527,246

Cash flows from investing activities

 

 

 

 

 

 

 

 

Financial investments, net of redemptions

4.b

42,728

 

446,681

 

312,119

 

(488,278)

Acquisition of property, plant, and equipment

14

(5,595)

 

-

 

(354,487)

 

(424,798)

Acquisition of intangible assets

15

(10,023)

 

-

 

(78,607)

 

(47,088)

Capital increase in subsidiary

12.a

(3,559)

 

(1,450,000)

 

-

 

-

Capital increase in joint-venture

12.b

-

 

-

 

(10,000)

 

(8,750)

Proceeds from disposal of property, plant, and equipment and intangibles

28

-

 

662

 

49,447

 

15,312

Net cash provided by (used in) investing activities

 

23,551

 

(1,002,657)

 

(81,528)

 

(953,602)

Cash flows from financing activities

 

 

 

 

 

 

 

 

Loans and debentures

 

 

 

 

 

 

 

 

Proceeds

16

994,996

 

-

 

1,611,155

 

1,997,984

Repayments

16

-

 

-

 

(984,871)

 

(2,063,895)

Interest paid

16

(43,083)

 

(55,385)

 

(336,187)

 

(1,003,282)

Payments of lease

13

(2,321)

 

-

 

(172,273)

 

(155,148)

Dividends paid

25.h

(260,004)

 

(378,469)

 

(263,059)

 

(380,573)

Redemption of non-controlling shares of Oxiteno Nordeste

3.b.2

-

 

-

 

-

 

(2,180)

Capital increase from Iconic non-controlling shareholders

 

-

 

-

 

-

 

6,996

Related parties

8.a

3,690

 

26,575

 

(48)

 

(48)

Net cash provided by (used in) financing activities

 

693,278

 

(407,279)

 

(145,283)

 

(1,600,146)

Effect of exchange rate changes on cash and cash equivalents in foreign currency

 

-

 

-

 

113,872

 

(3,147)

Increase (decrease) in cash and cash equivalents

 

972,852

 

(102,432)

 

1,689,812

 

(1,029,649)

Cash and cash equivalents at the beginning of the period

4.a

42,580

 

172,315

 

2,115,379

 

3,938,951

Cash and cash equivalents at the end of the period

4.a

1,015,432

 

69,883

 

3,805,191

 

2,909,302

Transactions without cash effect:

 

 

 

 

 

 

 

 

Addition on right to use assets and leases payable

13.a

32,719

 

-

 

293,685

 

257,021

Addition on contractual assets with customers – exclusive rights

11

-

 

-

 

56,260

 

-

Reversion fund private pension

10

-

 

-

 

47,088

 

-


 The accompanying notes are an integral part of the interim financial information.



Ultrapar Participações S.A. and Subsidiaries

For the six-month period ended June 30, 2020 and 2019

(In thousands of Brazilian Reais, except percentages)

 

 

Note

Parent

 

Consolidated

 

 

06/30/2020

 

%

 

06/30/2019

 

%

 

06/30/2020

 

%

 

06/30/2019

 

%

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross revenue from sales and services, except rents and royalties

26

-

 

 

 

-

 

 

 

40,044,517

 

 

 

45,179,967

 

 

Rebates, discounts, and returns

26

-

 

 

 

-

 

 

 

(753,010)

 

 

 

(756,582)

 

 

Expected losses on doubtful accounts

 

-

 

 

 

-

 

 

 

(56,516)

 

 

 

(65,640)

 

 

Amortization of contractual assets with customers – exclusive rights

11

-

 

 

 

-

 

 

 

(150,854)

 

 

 

(177,818)

 

 

Gain (loss) on disposal of property, plant, and equipment and intangibles and other operating income, net

28; 29

-