Edgar Filing: ULTRAPAR HOLDINGS INC

Form 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report Of Foreign Private Issuer

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

The Securities Exchange Act Of 1934

For the month of February, 2011

Commission File Number: 001-14950

ULTRAPAR HOLDINGS INC.

(Translation of Registrant’s Name into English)

Avenida Brigadeiro Luis Antonio, 1343, 9º Andar

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

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

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

Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

ULTRAPAR HOLDINGS INC.

TABLE OF CONTENTS

ITEM
4.	Market announcement regarding adoption of International Financial Reporting Standards (“IFRS”)

Item 4

ULTRAPAR PARTICIPAÇÕES S.A.

Publicly Traded Company

CNPJ Nº 33.256.439/0001-39

MARKET ANNOUNCEMENT

From the year ending December 31st, 2010 onwards, CVM made mandatory the adoption of the International Financial Reporting Standards (“IFRS”) in the presentation of financial statements of the Brazilian publicly-held companies. Accordingly, Ultrapar's consolidated financial statements for the year ended December 31st, 2010 were prepared in compliance with the IFRS, which differs in certain aspects from the previous Brazilian accounting standards.

For an understanding of the effects of the adoption of the IFRS, we released financial spreadsheets on CVM’s website (www.cvm.gov.br), as well as on Ultrapar’s website (www.ultra.com.br), demonstrating the impacts of the accounting changes introduced by the IFRS on the main line items of the financial statements of December 31st, 2009 and 2010 in comparison with the amounts that would have been obtained without such changes (Annex I). Additional information on the changes resulting from the adoption of the IFRS is available in note 2 of the financial statements of the year ended December 31st, 2010.

André Covre

Chief Financial and Investor Relations Officer

Ultrapar Participações S.A.

Annex I

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

1Q10

	Explanatory note¹		Ipiranga			Ultragaz			Oxiteno			Ultracargo			Others/Elim.		Ultrapar
EBITDA according to the previous accounting practices	note¹			210.0			70.9			39.5			30.4			11.5		362.4
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.1			-			-			-			-		1.1
Write-off of investments in progress		2.2 .c.		-			-			(0.1	)		-			-		(0.1	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(6.7	)		-			-			-			-		(6.7	)
Reclassification of the result of raw-material hedging - from financial		20		(0.1	)		-			(1.5	)		-			0.6		(1.0	)
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		23.7			-			-			-			-		23.7
Others effects, net				(0.2	)		(0.1	)		0.1			(0.0	)		0.0		(0.2	)
Total effects				17.7			(0.1	)		(1.5	)		(0.0	)		0.6		16.7
EBITDA after the implementation of the IFRS				227.7			70.9			38.0			30.4			12.1		379.1

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

1Q10

	Explanatory					Financial			Net
	note¹		EBITDA			results			earnings
Figures according to the previous accounting practices				362.4			(75.3	)		140.5
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.1			(1.3	)		(0.9	)
Measurement of property, plant and equipment		2.2 .b.		-			0.1			0.6
Write-off of investments in progress		2.2 .c.		(0.1	)		-			(0.1	)
Business combination - Texaco acquisition		2.2 .d.		-			-			(7.1	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(6.7	)		-			(6.7	)
Reclassification of the result of raw-material hedging - from financial
income or expenses to cost of goods sold		20		(1.0	)		1.0			-
Amortization of intangible assets		2.3 .h. / 13		23.7			-			-
Others effects, net²				(0.2	)		2.2			(2.4	)
Effect of the adoption of the IFRS in deferred income tax and social		2.2 .h.		-			-			(1.8	)
contribution
Total effects				16.7			2.0			(18.5	)
Figures after the implementation of the IFRS				379.1			(73.3	)		122.0

¹ Explanatory notes related to the financial statements of December 31 st, 2010

² Includes subsidiaries' non-controlling interest in net earnings, for further information see note 2.2.

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

2Q10

	Explanatory note¹		Ipiranga			Ultragaz			Oxiteno			Ultracargo			Others/Elim.		Ultrapar
EBITDA according to the previous accounting practices	note¹			235.6			83.4			70.6			28.4			15.4		433.4
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.7			-			-			-			-		1.7
Write-off of investments in progress		2.2 .c.		-			-			(0.0	)		-			-		(0.0	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		5.9			-			-			-			-		5.9
Reclassification of the result of raw-material hedging - from financial		20		(0.9	)		-			0.1			-			0.8		(0.0	)
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		26.4			-			-			-			-		26.4
Others effects, net				(0.5	)		(0.1	)		0.1			(0.0	)		0.0		(0.4	)
Total effects				32.6			(0.1	)		0.2			(0.0	)		0.8		33.6
EBITDA after the implementation of the IFRS				268.3			83.3			70.8			28.4			16.2		467.0

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

2Q10

	Explanatory					Financial			Net
	note¹		EBITDA			results			earnings
Figures according to the previous accounting practices				433.4			(67.8	)		196.0
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.7			(0.6	)		1.0
Measurement of property, plant and equipment		2.2 .b.		-			0.3			0.7
Write-off of investments in progress		2.2 .c.		(0.0	)		-			(0.0	)
Business combination - Texaco acquisition		2.2 .d.		-			-			(7.1	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		5.9			-			5.9
Reclassification of the result of raw-material hedging - from financial
income or expenses to cost of goods sold		20		(0.0	)		0.0			-
Amortization of intangible assets		2.3 .h. / 13		26.4			-			-
Others effects, net²				(0.4	)		2.3			2.0
Effect of the adoption of the IFRS in deferred income tax and social contribution		2.2 .h.		-			-			(6.8	)
Total effects				33.6			2.1			(4.4	)
Figures after the implementation of the IFRS				467.0			(65.8	)		191.6

¹ Explanatory notes related to the financial statements of December 31 st, 2010

² Includes subsidiaries' non-controlling interest in net earnings, for further information see note 2.2.

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

3Q10

	Explanatory note¹		Ipiranga			Ultragaz			Oxiteno			Ultracargo			Others/Elim.			Ultrapar
EBITDA according to the previous accounting practices	note¹			236.1			96.7			66.9			27.7			9.7			437.2
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.9			-			-			-			-			1.9
Write-off of investments in progress		2.2 .c.		-			-			-			-			-			-
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(0.4	)		-			-			-			-			(0.4	)
Reclassification of the result of raw-material hedging - from financial
income or expenses to cost of goods sold		20		(7.5	)		-			11.5			-			(3.3	)		0.8
Amortization of intangible assets		2.3 .h. / 13		27.4			-			-			-			-			27.4
Others effects, net				(1.5	)		(0.1	)		(0.0	)		(0.0	)		0.0			(1.5	)
Total effects				19.9			(0.1	)		11.5			(0.0	)		(3.3	)		28.1
EBITDA after the implementation of the IFRS				256.0			96.6			78.5			27.7			6.5			465.3

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

3Q10

	Explanatory					Financial			Net
	note¹		EBITDA			results			earnings
Figures according to the previous accounting practices				437.2			(63.7	)		211.3
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.9			(0.3	)		2.2
Measurement of property, plant and equipment		2.2 .b.		-			0.7			1.3
Write-off of investments in progress		2.2 .c.		-			-			-
Business combination - Texaco acquisition		2.2 .d.		-			-			(7.1	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(0.4	)		-			(0.4	)
Reclassification of the result of raw-material hedging - from financial
income or expenses to cost of goods sold		20		0.8			(0.8	)		-
Amortization of intangible assets		2.3 .h. / 13		27.4			-			-
Others effects, net²				(1.5	)		3.4			2.0
Effect of the adoption of the IFRS in deferred income tax and social
contribution		2.2 .h.		-			-			(5.2	)
Total effects				28.1			3.0			(7.2	)
Figures after the implementation of the IFRS				465.3			(60.7	)		204.1

¹ Explanatory notes related to the financial statements of December 31 st, 2010

² Includes subsidiaries' non-controlling interest in net earnings, for further information see note 2.2.

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

4Q10

	Explanatory note¹		Ipiranga			Ultragaz			Oxiteno		Ultracargo		Others/Elim.			Ultrapar
EBITDA according to the previous accounting practices	note¹			294.6			56.7			48.3		25.0		13.0			437.6
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.1			-			-		-		-			1.1
Write-off of investments in progress / deferred asset		2.2 .c.		-			-			-		-		-			-
Business combination - DNP acquisition		2.2 .d.		(0.2	)		-			-		-		-			(0.2	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(2.0	)		-			-		-		-			(2.0	)
Reclassification of the result of raw-material hedging - from financial		20		0.2			-			5.5		-		(4.9	)		0.8
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		28.9			-			-		-		-			28.9
Others effects, net				(1.2	)		(0.1	)		0.0		-		(0.0	)		(1.2	)
Total effects				26.8			(0.1	)		5.6		-		(4.9	)		27.3
EBITDA after the implementation of the IFRS				321.4			56.6			53.9		25.0		8.1			464.9

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

4Q10

	Explanatory					Financial			Net
	note¹		EBITDA			results			earnings
Figures according to the previous accounting practices				437.6			(66.0	)		252.9
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.1			(1.4	)		(0.5	)
Measurement of property, plant and equipment		2.2 .b.		-			0.6			1.4
Write-off of investments in progress / deferred asset		2.2 .c.		-			-			10.3
Business combination - Texaco / DNP acquisition		2.2 .d.		(0.2	)		-			(8.8	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(2.0	)		-			(2.0	)
Reclassification of the result of raw-material hedging - from financial		20		0.8			(0.8	)		-
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		28.9			-			-
Others effects, net²				(1.2	)		3.1			0.8
Effect of the adoption of the IFRS in deferred income tax and social		2.2 .h.		-			-			(6.7	)
contribution
Total effects				27.3			1.6			(5.5	)
Figures after the implementation of the IFRS				464.9			(64.4	)		247.4

¹ Explanatory notes related to the financial statements of December 31 st, 2010

² Includes subsidiaries' non-controlling interest in net earnings, for further information see note 2.2.

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

12M10

	Explanatory note¹		Ipiranga			Ultragaz			Oxiteno			Ultracargo			Others/Elim.			Ultrapar
EBITDA according to the previous accounting practices	note¹			976.4			307.7			225.4			111.5			49.6			1,670.6
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		5.8			-			-			-			-			5.8
Write-off of investments in progress / deferred asset		2.2 .c.		-			-			(0.1	)		-			-			(0.1	)
Business combination - DNP acquisition		2.2 .d.		(0.2	)		-			-			-			-			(0.2	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(3.4	)		-			-			-			-			(3.4	)
Reclassification of the result of raw-material hedging - from financial
income or expenses to cost of goods sold		20		(8.4	)		-			15.7			-			(6.8	)		0.5
Amortization of intangible assets		2.3 .h. / 13		106.5			-			-			-			-			106.5
Others effects, net				(3.4	)		(0.2	)		0.3			(0.0	)		-			(3.4	)
Total effects				97.0			(0.2	)		15.8			(0.0	)		(6.8	)		105.8
EBITDA after the implementation of the IFRS				1,073.4			307.4			241.2			111.5			42.8			1,776.3

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

12M10

	Explanatory					Financial			Net									Shareholder's
	note¹		EBITDA			results			earnings			Asset			Liabilities			equity
Figures according to the previous accounting practices				1,670.6			(272.8	)		800.7			12,602.5			7,368.0			5,212.2
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		5.8			(3.7	)		1.8			7.5			43.7			(36.2	)
Measurement of property, plant and equipment		2.2 .b.		-			1.8			3.9			(8.9	)		-			(8.9	)
Write-off of investments in progress / deferred asset		2.2 .c.		(0.1	)		-			10.2			(21.0	)		-			(21.0	)
Business combination - Texaco / DNP acquisition		2.2 .d.		(0.2	)		-			(30.1	)		(3.1	)		76.8			(79.9	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(3.4	)		-			(3.4	)		-			20.5			(20.5	)
Reclassification of ACE - from accounts receivables reducer to loans and		14		-			-			-			64.1			64.1			-
financing
Reclassification of negative hedging result - from a financial assets
reducer to loans and financing		14		-			-			-			54.4			54.4			-
Reclassification of the result of raw-material hedging - from financial
income or expenses to cost of goods sold		20		0.5			(0.5	)		-			-			-			-
Reclassification of escrow deposits - from provision reducer to asset				-			-			-			252.0			252.0			-
Amortization of intangible assets		2.3 .h. / 13		106.5			-			-			-			-			-
Others effects, net²				(3.4	)		11.0			2.5			6.5			(65.2	)		93.9
Effect of the adoption of the IFRS in deferred income tax and social
contribution		2.2 .h.		-			-			(20.6	)		35.8			-			35.8
Total effects				105.8			8.7			(35.6	)		387.4			446.3			(36.7	)
Figures after the implementation of the IFRS				1,776.3			(264.1	)		765.2			12,989.8			7,814.3			5,175.6

¹ Explanatory notes related to the financial statements of December 31st, 2010

² Includes subsidiaries' non-controlling interest in net earnings and shareholders' equity, for further information see note 2.2.

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

1Q09

	Explanatory note¹		Ipiranga			Ultragaz			Oxiteno			Ultracargo			Others/Elim.		Ultrapar
EBITDA according to the previous accounting practices	note¹			143.6			52.4			46.2			24.0			7.9		274.1
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		0.7			-			-			-			-		0.7
Write-off of investments in progress		2.2 .c.		(0.3	)		-			(0.1	)		-			-		(0.4	)
Ipiranga's deferred revenues - franchise fees, etc.		2.2 .e. / 17		0.3			-			-			-			-		0.3
Reclassification of the result of raw-material hedging - from financial		20		(0.2	)		-			2.1			-			-		1.9
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		10.0			-			-			-			-		10.0
Others effects, net				(0.0	)		(0.2	)		(1.3	)		(0.1	)		-		(1.7	)
Total effects				10.5			(0.2	)		0.8			(0.1	)		-		10.9
EBITDA after the implementation of the IFRS				154.0			52.2			46.9			23.9			7.9		285.0

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

1Q09

	Explanatory					Financial			Net
	note¹		EBITDA			results			earnings
Figures according to the previous accounting practices				274.1			(59.0	)		91.2
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		0.7			(0.5	)		(0.4	)
Measurement of property, plant and equipment		2.2 .b.		-			-			0.5
Write-off of investments in progress		2.2 .c.		(0.4	)		-			(0.4	)
Ipiranga's deferred revenues - franchise fees, etc.		2.2 .e. / 17		0.3			-			0.3
Reclassification of the result of raw-material hedging - from financial		20		1.9			(1.9	)		-
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		10.0			-			-
Others effects, net²				(1.7	)		3.6			2.4
Effect of the adoption of the IFRS in deferred income tax and social		2.2 .h.		-			-			(0.3	)
contribution
Total effects				10.9			1.2			2.0
Figures after the implementation of the IFRS				285.0			(57.8	)		93.2

¹ Explanatory notes related to the financial statements of December 31 st, 2010

² Includes subsidiaries' non-controlling interest in net earnings, for further information see note 2.2.

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

2Q09

	Explanatory note¹		Ipiranga			Ultragaz		Oxiteno			Ultracargo			Others/Elim.		Ultrapar
EBITDA according to the previous accounting practices	note¹			172.4			73.6		29.2			28.2			17.2		320.6
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		0.7			-		-			-			-		0.7
Write-off of investments in progress		2.2 .c.		-			-		(0.1	)		-			-		(0.1	)
Business combination - Texaco acquisition		2.2 .d.		(2.6	)		-		-			-			-		(2.6	)
Ipiranga's deferred revenues - franchise fees, etc.		2.2 .e. / 17		0.3			-		-			-			-		0.3
Reclassification of the result of raw-material hedging - from financial
income or expenses to cost of goods sold		20		(2.3	)		-		8.9			-			-		6.6
Amortization of intangible assets		2.3 .h. / 13		20.9			-		-			-			-		20.9
Others effects, net				(0.0	)		0.1		(1.8	)		(0.1	)		-		(1.9	)
Total effects				16.9			0.1		7.0			(0.1	)		-		23.9
EBITDA after the implementation of the IFRS				189.3			73.8		36.2			28.0			17.2		344.4

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

2Q09

	Explanatory					Financial			Net
	note¹		EBITDA			results			earnings
Figures according to the previous accounting practices				320.6			(86.9	)		93.3
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		0.7			(0.8	)		(0.3	)
Measurement of property, plant and equipment		2.2 .b.		-			-			0.0
Write-off of investments in progress		2.2 .c.		(0.1	)		-			(0.1	)
Business combination - Texaco acquisition		2.2 .d.		(2.6	)		(0.3	)		(10.1	)
Ipiranga's deferred revenues - franchise fees, etc.		2.2 .e. / 17		0.3			-			0.3
Reclassification of the result of raw-material hedging - from financial		20		6.6			(6.6	)		-
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		20.9			-			-
Others effects, net²				(1.9	)		3.9			2.4
Effect of the adoption of the IFRS in deferred income tax and social		2.2 .h.		-			-			3.1
contribution
Total effects				23.9			(3.8	)		(4.6	)
Figures after the implementation of the IFRS				344.4			(90.7	)		88.7

¹ Explanatory notes related to the financial statements of December 31 st, 2010

² Includes subsidiaries' non-controlling interest in net earnings, for further information see note 2.2.

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

3Q09

	Explanatory note¹		Ipiranga			Ultragaz			Oxiteno			Ultracargo			Others/Elim.			Ultrapar
EBITDA according to the previous accounting practices	note¹			198.7			94.0			38.9			30.5			8.9			371.1
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		0.6			-			-			-			-			0.6
Write-off of investments in progress		2.2 .c.		-			-			(0.1	)		-			-			(0.1	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(5.2	)		-			-			-			-			(5.2	)
Reclassification of the result of raw-material hedging - from financial		20		(0.2	)		-			12.1			-			(0.3	)		11.6
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		18.8			-			-			-			-			18.8
Others effects, net				(2.9	)		(0.1	)		(0.9	)		(0.1	)		-			(3.9	)
Total effects				11.1			(0.1	)		11.2			(0.1	)		(0.3	)		21.9
EBITDA after the implementation of the IFRS				209.8			93.9			50.1			30.4			8.6			393.0

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

3Q09

	Explanatory					Financial			Net
	note¹		EBITDA			results			earnings
Figures according to the previous accounting practices				371.1			(59.7	)		133.4
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		0.6			(0.4	)		(0.2	)
Measurement of property, plant and equipment		2.2 .b.		-			(0.2	)		(0.2	)
Write-off of investments in progress		2.2 .c.		(0.1	)		-			(0.1	)
Business combination - Texaco acquisition		2.2 .d.		-			-			(7.1	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(5.2	)		-			(5.2	)
Reclassification of the result of raw-material hedging - from financial		20		11.6			(11.6	)		-
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		18.8			-			-
Others effects, net²				(3.9	)		5.9			2.0
Effect of the adoption of the IFRS in deferred income tax and social		2.2 .h.		-			-			(0.3	)
contribution
Total effects				21.9			(6.3	)		(11.0	)
Figures after the implementation of the IFRS				393.0			(66.0	)		122.4

¹ Explanatory notes related to the financial statements of December 31 st, 2010

² Includes subsidiaries' non-controlling interest in net earnings, for further information see note 2.2.

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

4Q09

	Explanatory note¹		Ipiranga			Ultragaz			Oxiteno			Ultracargo		Others/Elim.			Ultrapar
EBITDA according to the previous accounting practices	note¹			262.9			61.3			30.5			22.1		11.8			388.6
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.2			-			-			-		-			1.2
Write-off of investments in progress / deferred asset		2.2 .c.		-			-			(0.1	)		-		-			(0.1	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(6.4	)		-			-			-		-			(6.4	)
Reclassification of the result of raw-material hedging - from financial		20		(1.3	)		-			7.3			-		(1.4	)		4.6
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		20.3			-			-			-		-			20.3
Others effects, net				(0.1	)		(0.0	)		(0.2	)		-		-			(0.3	)
Total effects				13.9			(0.0	)		6.9			-		(1.4	)		19.4
EBITDA after the implementation of the IFRS				276.7			61.3			37.5			22.1		10.4			408.0

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

4Q09

	Explanatory					Financial			Net
	note¹		EBITDA			results			earnings
Figures according to the previous accounting practices				388.6			(72.6	)		148.8
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		1.2			(0.7	)		(0.4	)
Measurement of property, plant and equipment		2.2 .b.		-			(0.2	)		(0.5	)
Write-off of investments in progress / deferred asset		2.2 .c.		(0.1	)		-			5.7
Business combination - Texaco acquisition		2.2 .d.		-			-			(7.1	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(6.4	)		-			(6.4	)
Reclassification of the result of raw-material hedging - from financial		20		4.6			(4.6	)		-
income or expenses to cost of goods sold
Amortization of intangible assets		2.3 .h. / 13		20.3			-			-
Others effects, net²				(0.3	)		1.2			(0.3	)
Effect of the adoption of the IFRS in deferred income tax and social		2.2 .h.		-			-			(3.4	)
contribution
Total effects				19.4			(4.4	)		(12.4	)
Figures after the implementation of the IFRS				408.0			(77.0	)		136.5

¹ Explanatory notes related to the financial statements of December 31 st, 2010

² Includes subsidiaries' non-controlling interest in net earnings, for further information see note 2.2.

Effects from the implementation of the IFRS on the business units' EBITDA

(R$ million)

12M09

	Explanatory note¹		Ipiranga			Ultragaz			Oxiteno			Ultracargo			Others/Elim.			Ultrapar
EBITDA according to the previous accounting practices	note¹			777.5			281.4			144.8			104.8			45.8			1,354.4
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		3.3			-			-			-			-			3.3
Write-off of investments in progress / deferred asset		2.2 .c.		-			-			(0.4	)		-			-			(0.4	)
Business combination - Texaco acquisition²		2.2 .d.		(2.9	)		-			-			-			-			(2.9	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(11.0	)		-			-			-			-			(11.0	)
Reclassification of the result of raw-material hedging - from financial
income or expenses to cost of goods sold		20		(4.0	)		-			30.5			-			(1.7	)		24.8
Amortization of intangible assets		2.3 .h. / 13		70.0			-			-			-			-			70.0
Others effects, net				(3.0	)		(0.2	)		(4.2	)		(0.3	)		-			(7.8	)
Total effects				52.4			(0.2	)		25.9			(0.3	)		(1.7	)		76.0
EBITDA after the implementation of the IFRS				829.9			281.2			170.7			104.5			44.1			1,430.4

Main effects from the implementation of the IFRS on the consolidated financial statements

(R$ million)

12M09

	Explanatory					Financial			Net									Shareholder's
	note¹		EBITDA			results			earnings			Asset			Liabilities			equity
Figures according to the previous accounting practices				1,354.4			(278.2	)		466.7			11,106.2			6,226.0			4,845.2
Recognition of provision for removal of Ipiranga's fuel tanks		2.2 .a. / 16		3.3			(2.4	)		(1.2	)		6.6			44.6			(38.0	)
Measurement of property, plant and equipment		2.2 .b.		-			(0.4	)		(0.2	)		(12.8	)		-			(12.8	)
Write-off of investments in progress / deferred asset		2.2 .c.		(0.4	)		-			5.4			(31.2	)		-			(31.2	)
Business combination - Texaco acquisition²		2.2 .d.		(2.9	)		(0.3	)		(24.5	)		26.5			76.3			(49.8	)
Ipiranga's deferred revenues - franchise fees, loyalty program, etc.		2.2 .e. / 17		(11.0	)		-			(11.0	)		-			17.1			(17.1	)
Reclassification of ACE - from accounts receivables reducer to loans and		14		-			-			-			72.1			72.1			-
financing
Reclassification of negative hedging result - from a financial assets
reducer to loans and financing		14		-			-			-			51.8			51.8			-
Reclassification of the result of raw-material hedging - from financial
income or expenses to cost of goods sold		20		24.8			(24.8	)		-			-			-			-
Reclassification of escrow deposits - from provision reducer to asset				-			-			-			204.3			204.3			-
Amortization of intangible assets		2.3 .h. / 13		70.0			-			-			-			-			-
Others effects, net³				(7.8	)		14.7			6.5			2.8			(54.8	)		92.7
Effect of the adoption of the IFRS in deferred income tax and social
contribution		2.2 .h.		-			-			(0.9	)		56.4			-			56.4
Total effects				76.0			(13.3	)		(26.0	)		376.5			411.4			0.1
Figures after the implementation of the IFRS				1,430.4			(291.5	)		440.7			11,482.6			6,637.4			4,845.3

¹ Explanatory notes related to the financial statements of December 31st, 2010

² Considers R$ (0.3) MM related to expenditures on the acquisition of Texaco, included in write-off of investments in progress in 1Q09

³ Includes subsidiaries' non-controlling interest in net earnings and shareholders' equity, for further information see note 2.2.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	ULTRAPAR HOLDINGS INC.

Date: February 24, 2011	By:	/s/ André Covre
		Name: André Covre
		Title: Chief Financial and Investor Relations Officer

(Market Announcement - IFRS)