# ULTRAPAR HOLDINGS INC

Summary updated: 2026-10-02T16:03:40.839309Z
Canonical: https://finbar.com/research/companies/ultrapar-holdings-inc

## Overview

Ultrapar Holdings Inc. is a Brazilian holding company focused on mobility, energy and logistics infrastructure. Its principal businesses include Ipiranga, which distributes fuels and offers convenience and related services; Ultragaz, a liquefied petroleum gas (LPG) distributor; Ultracargo, a liquid-bulk storage and logistics provider; and Hidrovias, which provides waterway transport and port-logistics services. [1](https://app.finbar.com/go?id=P152884110)[2](https://app.finbar.com/go?id=P152884111) Its operations are centered in Brazil, with Hidrovias also serving South American transport corridors. [2](https://app.finbar.com/go?id=P152884111)[3](https://app.finbar.com/go?id=P152884879)

Grupo Ultra describes its purpose as “Investing in Brazil’s energy and future.” [4](https://www.ultra.com.br/sobre-nos/) For scale, Ultrapar reported net revenue of R$142.37 billion in 2025 and 11,302 employees at year-end. [5](https://api.mziq.com/mzfilemanager/v2/d/4282e939-a6dc-401d-a873-e3c28b7e48df/10c7f82e-25cf-c277-725e-56d8bd843a94?origin=2)[6](https://app.finbar.com/go?id=T17601037)
[1](https://app.finbar.com/go?id=P152884110)[2](https://app.finbar.com/go?id=P152884111)[3](https://app.finbar.com/go?id=P152884879)[6](https://app.finbar.com/go?id=T17601037)[4](https://www.ultra.com.br/sobre-nos/)[5](https://api.mziq.com/mzfilemanager/v2/d/4282e939-a6dc-401d-a873-e3c28b7e48df/10c7f82e-25cf-c277-725e-56d8bd843a94?origin=2)

## Products & services

Ultrapar’s product and service portfolio includes Ipiranga’s fuel distribution, including Ipimax premium additive fuels, through a network of about 5,800 service stations. Related offerings include AmPm convenience stores, Jet Oil automotive-service units, the KMV loyalty program, business-to-business sales through Ipiranga Empresas, lubricants supplied through ICONIC, and wholesale/reseller distribution through NeoDiesel. [2](https://app.finbar.com/go?id=P152884111)[7](https://app.finbar.com/go?id=P152884512)

Ultragaz supplies LPG, renewable-source electricity, compressed natural gas, biomethane and bioLPG made from vegetable oils; its customer base includes households and commercial, industrial and agribusiness users. [2](https://app.finbar.com/go?id=P152884111) Ultracargo provides liquid-bulk storage and logistics through multipurpose terminals; its 2025 additions included a Palmeirante terminal with 23,000 m³ of fuel-storage capacity and a railway connection to Itaqui port. [2](https://app.finbar.com/go?id=P152884111)[8](https://app.finbar.com/go?id=P152884836) Hidrovias do Brasil provides waterway transport and port-logistics services, particularly for grains, minerals and fertilizers. [2](https://app.finbar.com/go?id=P152884111) In FY2025, Ipiranga represented approximately 89.7% of consolidated revenue, Ultragaz 8.7%, Ultracargo 0.6% and Hidrovias do Brasil 1.1%; these are segment revenue shares, not product-level mix. [9](https://app.finbar.com/go?id=T17601361)
[2](https://app.finbar.com/go?id=P152884111)[7](https://app.finbar.com/go?id=P152884512)[8](https://app.finbar.com/go?id=P152884836)[9](https://app.finbar.com/go?id=T17601361)

## Geographic presence

Ultrapar’s principal operating footprint is in Brazil. At year-end 2025, Ipiranga had about 5,800 service stations, Ultragaz served about 10.5 million households through 6,300 resellers, and Ultracargo operated nine liquid-bulk terminals. [2](https://app.finbar.com/go?id=P152884111) Ultragaz also reported coverage in almost all significant Brazilian population centers, with bottling and distribution plants in Belém, Pará, and Fortaleza, Ceará. [10](https://app.finbar.com/go?id=P152884742)

Some businesses have broader South American reach: Hidrovias’ South Corridor connects Brazil, Paraguay, Uruguay and Argentina, and the company participates in a bulk terminal in Montevideo, Uruguay. [3](https://app.finbar.com/go?id=P152884879) Iconic serves customers in Brazil, Argentina, Bolivia, Uruguay and Paraguay. [11](https://app.finbar.com/go?id=P152884688) Ultrapar’s investor-relations address is in São Paulo, Brazil. [12](https://ri.ultra.com.br/en/investor-services/contact-ir/)

Ultrapar’s 2025 reporting presents revenue by business segment rather than by country or region, so a geographic revenue split is not available in the reported figures. [13](https://app.finbar.com/go?id=T17600995) It reports employees by business line, but not by country, Brazilian region or office location. [6](https://app.finbar.com/go?id=T17601037)
[2](https://app.finbar.com/go?id=P152884111)[10](https://app.finbar.com/go?id=P152884742)[3](https://app.finbar.com/go?id=P152884879)[11](https://app.finbar.com/go?id=P152884688)[12](https://ri.ultra.com.br/en/investor-services/contact-ir/)[13](https://app.finbar.com/go?id=T17600995)[6](https://app.finbar.com/go?id=T17601037)[12](https://ri.ultra.com.br/en/investor-services/contact-ir/)

## Business segments

Ultrapar reports four principal operating segments. In FY2025, Ipiranga focused on distributing and selling oil-related products and biofuels to service stations, major consumers and resellers, alongside convenience-store and automotive-service activities; it generated about 89.7% of consolidated revenue from third parties. [14](https://app.finbar.com/go?id=T17601356)[9](https://app.finbar.com/go?id=T17601361) Ultragaz distributes LPG in bulk to commercial, industrial and other customers and in cylinders mainly to households, and also offers energy solutions; it accounted for about 8.7%. [14](https://app.finbar.com/go?id=T17601356)[9](https://app.finbar.com/go?id=T17601361)

Ultracargo provides liquid-bulk storage services at Brazilian logistics hubs and contributed about 0.6% of revenue. [14](https://app.finbar.com/go?id=T17601356)[9](https://app.finbar.com/go?id=T17601361) Hidrovias provides waterway and multimodal logistics and infrastructure in Brazil and internationally; it contributed about 1.1% in FY2025 and was reported as a new operating segment from May 2025. [14](https://app.finbar.com/go?id=T17601356)[9](https://app.finbar.com/go?id=T17601361)[15](https://app.finbar.com/go?id=P152886528) The reported “Others” category contributed less than 0.01%; it is a residual reporting category rather than one of the four principal segments. [9](https://app.finbar.com/go?id=T17601361)
[14](https://app.finbar.com/go?id=T17601356)[14](https://app.finbar.com/go?id=T17601356)[14](https://app.finbar.com/go?id=T17601356)[14](https://app.finbar.com/go?id=T17601356)[14](https://app.finbar.com/go?id=T17601356)[14](https://app.finbar.com/go?id=T17601356)[14](https://app.finbar.com/go?id=T17601356)[14](https://app.finbar.com/go?id=T17601356)[9](https://app.finbar.com/go?id=T17601361)[9](https://app.finbar.com/go?id=T17601361)[9](https://app.finbar.com/go?id=T17601361)[9](https://app.finbar.com/go?id=T17601361)[9](https://app.finbar.com/go?id=T17601361)[9](https://app.finbar.com/go?id=T17601361)[15](https://app.finbar.com/go?id=P152886528)

## Company history

Ultrapar’s history traces to 1937, when entrepreneur Ernesto Igel established Brazil’s first bottled-gas distribution company, the forerunner of Ultragaz; the company’s own history distinguishes this origin from Ultrapar’s later corporate formation. [16](https://ri.ultra.com.br/en/overview/profile-and-history/) Ultrapar held its initial public offering in October 1999, beginning its listed-company era in Brazil and the United States. [17](https://ri.ultra.com.br/en/governance/equity-ownership/)

A major expansion came in 2007 with the acquisition of fuel distributor Ipiranga. [18](https://ri.ultra.com.br/en/investor-services/faq/) In 2008, Ipiranga agreed to acquire Chevron’s CBL and Galena interests, integrating Texaco into its distribution operations; Texaco-branded stations were converted to Ipiranga by the end of 2012. [19](https://app.finbar.com/go?id=P152884375)

In 2021 and 2022, Ultrapar sold its interests in ConectCar, Oxiteno and Extrafarma as it reshaped its portfolio. [20](https://app.finbar.com/go?id=P152885053)[21](https://app.finbar.com/go?id=P152885071) The group later expanded its logistics exposure through Hidrovias do Brasil: after increasing its stake, a subsidiary became Hidrovias’ controlling shareholder in 2025. [22](https://app.finbar.com/go?id=P152885537)[23](https://app.finbar.com/go?id=T17601158)
[19](https://app.finbar.com/go?id=P152884375)[20](https://app.finbar.com/go?id=P152885053)[21](https://app.finbar.com/go?id=P152885071)[22](https://app.finbar.com/go?id=P152885537)[23](https://app.finbar.com/go?id=T17601158)[16](https://ri.ultra.com.br/en/overview/profile-and-history/)[17](https://ri.ultra.com.br/en/governance/equity-ownership/)[18](https://ri.ultra.com.br/en/investor-services/faq/)

## Sources

1. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152884110)
2. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152884111)
3. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152884879)
4. [www.ultra.com.br](https://www.ultra.com.br/sobre-nos/)
5. [api.mziq.com](https://api.mziq.com/mzfilemanager/v2/d/4282e939-a6dc-401d-a873-e3c28b7e48df/10c7f82e-25cf-c277-725e-56d8bd843a94?origin=2)
6. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17601037)
7. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152884512)
8. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152884836)
9. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17601361)
10. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152884742)
11. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152884688)
12. [ri.ultra.com.br](https://ri.ultra.com.br/en/investor-services/contact-ir/)
13. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17600995)
14. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17601356)
15. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152886528)
16. [ri.ultra.com.br](https://ri.ultra.com.br/en/overview/profile-and-history/)
17. [ri.ultra.com.br](https://ri.ultra.com.br/en/governance/equity-ownership/)
18. [ri.ultra.com.br](https://ri.ultra.com.br/en/investor-services/faq/)
19. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152884375)
20. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152885053)
21. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152885071)
22. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P152885537)
23. [ULTRAPAR HOLDINGS INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17601158)

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