Ultrapar Participações S.A. (UGP): Análisis de la Matriz ANSOFF [Actualizado en Ene-2025]

En el panorama dinámico de la energía y la logística brasileña, Ultrapar Particyes S.A. (UGP) se encuentra en una encrucijada estratégica, lista para redefinir su posicionamiento del mercado a través de un enfoque integral de matriz Ansoff. Al explorar meticulosamente la penetración del mercado, el desarrollo, la innovación de productos y la diversificación estratégica, la compañía está trazando un camino ambicioso que promete aprovechar su infraestructura robusta, capacidades tecnológicas y una profunda comprensión de la dinámica regional del mercado. Este plan estratégico no solo destaca el compromiso de Ultrapar con el crecimiento, sino que también muestra su adaptabilidad en un entorno empresarial cada vez más complejo y competitivo.

Ultrapa Participações S.A. (UGP) - Ansoff Matrix: Penetración del mercado

Expandir la red de distribución de las estaciones de gas ipiranga

A partir de 2022, Ipiranga opera 7.300 estaciones de servicio en Brasil. La compañía tiene como objetivo aumentar su cobertura de red del 22% al 25% de participación de mercado en el sector de distribución de combustible.

Implementar campañas de marketing dirigidas

Ultrapar invirtió R $ 85 millones en iniciativas de marketing en 2022, centrándose en estrategias de programas digitales y de lealtad.

• La membresía del programa de fidelización aumentó en un 15% en 2022
• El gasto de marketing digital aumentó en un 22% en comparación con 2021
• Las tasas de participación del cliente mejoraron en un 18%

Optimizar la eficiencia operativa

En 2022, Ultrapar logró una reducción de costos operativos de R $ 120 millones a través de iniciativas de eficiencia.

Desarrollar programas de retención de clientes

La tasa de retención de clientes comerciales de Ultrapar alcanzó el 92% en 2022, con ingresos por segmento B2B de R $ 3.2 mil millones.

Aumentar las oportunidades de venta cruzada

Los ingresos de venta cruzada aumentaron en un 18% en 2022, alcanzando R $ 450 millones en los segmentos comerciales de Ultrapar.

• Estaciones de combustible Ipiranga integradas con Servicios de Farmacia ExtraFarma
• Ultragaz conectado con clientes industriales a través de soluciones de energía integrada
• Crecimiento de ingresos entre segmentos del 12% en 2021 al 18% en 2022

Ultrapa Participações S.A. (UGP) - Ansoff Matrix: Desarrollo del mercado

Expansión de la red minorista de Ipiranga en regiones desatendidas de Brasil

En 2022, Ipiranga operó 7.800 estaciones de servicio en Brasil. La compañía dirigió la expansión en las regiones del noreste y del norte, donde la penetración del mercado fue un 35% más baja en comparación con los estados del sudeste.

Mercados internacionales objetivo en América Latina

Ultrapar identificó la posible expansión de distribución de combustible en Colombia y Argentina, que representa una oportunidad de mercado de $ 1.2 mil millones.

• Potencial del mercado de Colombia: $ 450 millones
• Potencial del mercado de Argentina: $ 750 millones

Asociaciones estratégicas con empresas de transporte y logística

Ultrapar estableció 12 asociaciones de logística estratégica en 2022, aumentando la eficiencia de la distribución en un 22%.

Crecimiento de la red de la estación de servicio en los países vecinos

Expansión de la red internacional proyectada:

• Uruguay: 50 nuevas estaciones para 2025
• Paraguay: 75 nuevas estaciones para 2025
• Inversión total: $ 85 millones

Palancamiento de infraestructura para nuevos segmentos geográficos

Ultrapar invirtió R $ 320 millones en desarrollo de infraestructura en nuevos segmentos geográficos brasileños en 2022.

Ultrapa Participações S.A. (UGP) - Ansoff Matrix: Desarrollo de productos

Invierta en tecnologías alternativas de combustible e infraestructura de carga de vehículos eléctricos

En 2022, Ultrapar invirtió R $ 253.4 millones en iniciativas de investigación y desarrollo. La compañía amplió su red de carga de vehículos eléctricos a 150 estaciones de carga en Brasil.

Desarrollar productos de lubricantes y químicos especializados para sectores industriales emergentes

La subsidiaria Ipiranga de Ultrapar desarrolló 12 nuevas formulaciones de lubricantes especializadas para aplicaciones industriales en 2022.

• Innovaciones lubricantes del sector automotriz: 5 nuevos productos
• Soluciones químicas del sector de fabricación: 7 nuevos productos

Crear soluciones de combustible y energía personalizadas para verticales específicas de la industria

En 2022, Ultrapar generó R $ 1.2 mil millones en ingresos de soluciones de energía personalizadas en varios sectores industriales.

Mejorar plataformas digitales para experiencias de servicio al cliente más integradas

Ultrapar invirtió R $ 67.2 millones en iniciativas de transformación digital, lo que resultó en un aumento del 38% en las interacciones digitales del cliente en 2022.

• Descargas de aplicaciones móviles: 275,000
• Usuarios de la plataforma de servicio digital: 1.2 millones

Innovar tecnologías de almacenamiento y distribución para productos de petróleo y químicos

La compañía implementó tecnologías de almacenamiento avanzadas en 22 centros de distribución, reduciendo la pérdida de productos en un 15% en 2022.

Ultrapa Participações S.A. (UGP) - Ansoff Matrix: Diversificación

Explore las inversiones de energía renovable más allá de los sectores de combustible tradicionales

Ultrapar invirtió R $ 300 millones en proyectos de energía renovable en 2022. La compañía adquirió una participación del 51% en Hidrovias do Brasil, expandiendo su cartera de logística. Las inversiones de energía solar y eólica representaron el 12.5% ​​de la nueva cartera de energía de la compañía.

Desarrollar servicios de gestión de la logística y la cadena de suministro impulsada por la tecnología

El segmento logístico de Ultrapar generó R $ 1.2 mil millones en ingresos en 2022. Las plataformas de logística digital aumentaron la eficiencia operativa en un 22.7%.

• Sistemas de optimización de ruta impulsados ​​por la IA implementados
• Invertir R $ 45 millones en infraestructura de tecnología logística
• Costos de transporte reducidos en un 16,3%

Invierta en la transformación digital y los ecosistemas de inicio de tecnología

R $ 85 millones asignados a las iniciativas de transformación digital en 2022. Se asoció con 7 nuevas empresas de tecnología en los sectores de energía y logística.

Crear fondos de capital de riesgo estratégico dirigido a soluciones de energía innovadoras

Estableció un Fondo de capital de riesgo R $ 250 millones centrado en la energía limpia y las tecnologías de transformación digital.

• Áreas de inversión objetivo: energía renovable, IoT, blockchain
• Comprometido con 15 inversiones tecnológicas potenciales
• Retorno de la inversión esperado: 18-22%

Investigar posibles adquisiciones en sectores de la industria complementaria

Identificó 5 objetivos de adquisición potenciales en sectores de logística y energía renovable. Valor de adquisición potencial total estimado en R $ 750 millones.

Ultrapar Participações S.A. (UGP) - Ansoff Matrix: Market Penetration

You're looking at how Ultrapar Participações S.A. (UGP) plans to sell more of its current fuel and convenience offerings to its existing customer base in Brazil. This is about deepening the relationship with current clients and maximizing sales within established territories. The strategy hinges on heavy investment in the Ipiranga network and leveraging the massive reach of its loyalty program.

The 2025 Investment Plan shows a clear focus on reinforcing the core Ipiranga brand presence. The total planned organic investment for 2025 is R$ 2.542 billion.

The allocation for Ipiranga is substantial, with a dedicated focus on both expansion and operational hardening:

The R$ 688 million earmarked for expansion is directly aimed at improving the physical footprint and rebranding stations, which is classic market penetration-making the existing offering more attractive to current customers.

For efficiency gains, the R$ 678 million maintenance CapEx is set to modernize Ipiranga's technological platform, including upgrades to its ERP system and satellite systems, all designed to boost productivity.

Driving same-store sales and premium adoption is key to this quadrant. The Km de Vantagens loyalty program is a major asset here, boasting 38 million participants.

• Accelerate premium fuel sales, like IPMAX, which is showing growth as consumers return to quality-based choices.
• The AmPm convenience store network ended Q2 2025 with 1,460 stores.
• AmPm same-store sales growth reached 12% in the first quarter of 2025.
• The Jet Oil service units count stood at 1,145 units as of Q1 2025.

Market share defense and recovery are also part of this penetration strategy, especially given sector irregularities. Combating illegal fuel sales is showing results, as Ipiranga's volume sold in the third quarter of 2025 was 1% higher compared to the third quarter of 2024, with gasoline sales leading the increase.

Finance: review the Q3 2025 volume growth against the Q4 2025 targets by next Tuesday.

Ultrapar Participações S.A. (UGP) - Ansoff Matrix: Market Development

Market Development for Ultrapar Participações S.A. (UGP) centers on taking existing businesses into new geographic areas or new customer segments with current offerings. This strategy is heavily supported by the 2025 Investment Plan, which allocates approximately 60% of the total planned capital expenditure of R$ 2.542 billion toward expansion across its subsidiaries.

For Ultracargo, the logistics arm, the focus is on expanding capacity in key regions to serve new clients and markets.

• Finalize Ultracargo's expansion in Santos, adding 25,000 $\text{m}3$ of storage capacity to serve new clients in the Southeast-Midwest corridor, with completion expected in 2025.
• Initiate the 40,000 $\text{m}3$ capacity increase at Ultracargo's Suape terminal by 2026, targeting the Northeast region.
• The total expansion budget for Ultracargo in 2025 is R$ 557 million.

The strategic move into waterway logistics via Hidrovias do Brasil S.A. is a prime example of reaching new agribusiness markets in the Central-West and North regions.

This integration is designed to offer integrated logistics solutions to new agribusiness clients, capitalizing on Brazil's logistics infrastructure deficit.

Ultragaz is targeting new bulk LPG clients within the industrial and commercial segments through direct investment in expansion.

The 2025 plan allocates R$ 267 million of Ultragaz's total R$ 480 million budget toward expansion, specifically to capture these new bulk segment customers and explore new energy sources.

For Ipiranga, the expansion of the TRR (Road Transport Refueling) segment aims to capture new B2B customers, particularly in remote agricultural areas.

Ipiranga's expansion budget for 2025 is R$ 688 million, part of its total planned investment of R$ 1.366 billion. The focus includes enhancing logistical infrastructure to support this B2B growth.

Key expansion allocations for 2025 are summarized below:

• Ipiranga Expansion: R$ 688 million
• Ultragaz Expansion: R$ 267 million
• Ultracargo Expansion: R$ 557 million

Ultrapar Participações S.A. (UGP) - Ansoff Matrix: Product Development

You're looking at how Ultrapar Participações S.A. is evolving its existing businesses with new offerings, which is the Product Development quadrant of the Ansoff Matrix. Let's look at the numbers supporting these moves as of the latest data available.

For Ultragaz, the push into new energies is backed by a planned investment of R$ 480 million in 2025 to conquer new bulk gas clients and expand these new energy operations. This builds on a solid base where, in 2024, Ultragaz supplied 11 million homes and 57 thousand business customers, alongside operating two solar power plants. The introduction of renewable electricity for businesses and households, plus Compressed Natural Gas (CNG) and biomethane solutions for corporate clients, is a direct product extension.

To give you a sense of scale for the businesses driving these product developments, here's a snapshot of their 2024 operational footprint:

At Ipiranga, enhancing the customer experience through the app involves significant technology investment. The 2025 investment plan allocates R$ 1.366 billion to Ipiranga, part of which supports its platform technology for updating the ERP and associated systems. This digital development aims to better serve the 38 million participants in the Km de Vantagens loyalty program.

Ultracargo is focused on adding value through operational technology, specifically mentioning AI sensors for real-time anomaly monitoring in feed pumps as a new service. For 2025, Ultracargo is slated to receive R$ 673 million in capital expenditure, which supports finalizing expansions in terminals like Santos and Itaqui, creating the infrastructure where such advanced monitoring services can be deployed. This segment handled over +15 million tons in 2024.

When it comes to automotive services, the Jet Oil network, which already has 1,145 units, is targeted for rolling out new products and services beyond the basic oil change. This is part of the overall Ipiranga investment bucket, which is the largest share of the total planned R$ 2.542 billion capital expenditure for Ultrapar Participações S.A. in 2025.

The financial performance context for these investments shows strong recent results. For the third quarter of 2025, Ultrapar Participações S.A. achieved an adjusted EBITDA of BRL 1.9 billion, marking a 27% year-over-year increase, and net income grew 11% year-over-year to BRL 772 million. The company also managed to reduce its leverage from 1.9x to 1.7x.

• Develop new digital services within the Ipiranga app to enhance the customer experience at the service station.
• Use AI sensors in Ultracargo's feed pumps to offer real-time anomaly monitoring as a new value-added service.
• Roll out new automotive services and products through the Jet Oil network, beyond basic oil changes.

Finance: draft the Q4 2025 capital allocation forecast by January 15, 2026.

Ultrapar Participações S.A. (UGP) - Ansoff Matrix: Diversification

Diversification for Ultrapar Participações S.A. (UGP) involves moving capital into new energy and infrastructure adjacencies, using proceeds from divestitures to fund these shifts.

Entry into LNG Logistics: Ultrapar Participações S.A. signed an agreement on October 24, 2025, to acquire a 37.5% stake in Virtu GNL Participações S.A. for a total investment of R$ 102.5 million. This transaction is structured with R$ 30.0 million as a capital contribution via new shares, R$ 52.5 million for convertible debentures, and the remaining R$ 17.5 million paid to existing shareholders. The resulting control block is shared with Perfin Infra, holding 75% of voting capital.

This move establishes a new business entirely: low-carbon logistics platform focused on replacing diesel with LNG for road transportation, targeting agribusiness routes in Brazil's Central-West and Northern regions.

Portfolio Optimization via Divestiture: The company completed the sale of its coastal navigation operation through Hidrovias do Brasil S.A. to Companhia de Navegação Norsul on November 3, 2025. The transaction value realized was R$ 715 million (Enterprise Value). This closing allows Ultrapar Participações S.A. to concentrate on more synergistic businesses.

Infrastructure Exposure: Ultrapar Participações S.A. is exploring further infrastructure investments outside core fuel/LPG distribution, evidenced by its growing position in Rumo, nearing a 5% stake as of November 27, 2025. Hypothetically, a 30% stake in Rumo could increase Net Debt/LTM EBITDA from about +0.2x to a peak of 3.0x if consolidated.

The strategic focus on new, synergistic businesses follows the divestiture, supporting capital allocation for growth in energy transition and infrastructure plays.

Ultragaz New Energy Segment Development: Ultragaz is developing a standalone, non-LPG utility business for revenue diversification.

Key operational and financial data points related to this diversification effort include:

• Acquisition of Stella Energia and NEOgás in 2022.
• Ultragaz LPG volume sold in Q1 2025 was 1% higher year-over-year.
• Bottled LPG segment sales increased by 2% in Q1 2025.
• Ultragaz SG&A in Q1 2025 was 70% higher than Q1 2024.

Here's the quick math on the major asset movements supporting this diversification strategy:

What this estimate hides is the immediate impact on the consolidated P/L from the Rumo position versus the full integration of Virtu GNL. The prior year's (2022) net revenue for the entire Ultra Group was R$ 147 billion. Finance: draft 13-week cash view by Friday.