Marcos Lutz was elected CEO of Ultrapar in January 2022 and re-elected in 2023 for a new two-year term. Since he took over as chairman, the company has focused on its M&A strategy, having acquired compressed natural gas specialist NEOgás and solar energy startup Stella at the end of last year. In April this year, the group signed a contract to acquire a 50% stake in Opla Logística Avançada, Brazil’s largest independent ethanol terminal, in a transaction worth 237.5 million reais (US$49.3 million) . In consolidated 2022, Ultrapar achieved a 24% increase in net income, totaling 146 billion reais (US$30.33 billion), and a 108% increase in net profit, to 1.8 billion reais (US$374 million). The company’s shares have risen from 11 reais (US$2.29) in July 2022 to around 19 reais (US$3.95) today.
