Ultrapar Participações S.A. (NYSE:UGP) Q3 2019 Earnings Conference Call Transcript
Nov 07, 2019 • 10:30 am ET
Good morning, ladies and gentlemen. At this time, we would like to welcome everyone to the Ultrapar's Third Quarter 2019 Results Conference Call. There is a simultaneous webcast that can be accessed through the Ultrapar's website at ri.ultra.com.br and MZIQ platform. Please feel free to flip through the slides during the conference call. Today with us, we have Mr. Fred Curado, Chief Executive Officer and Mr. Andre Pires, Chief Financial Officer and Investor Relations Officer, together with other executives of Ultrapar.
[Operator Instructions] After Ultrapar's remarks are completed, there will be a question-and-answer session. At that time, further instructions will be given. [Operator Instructions] We remind you that questions which will be answered during the Q&A session may be posted in advance in the webcast. A replay of this call will be available for one week. Before proceeding, let me mention that forward-looking statements are being made under the Safe Harbor of Securities Litigation Reform Act of 1996. Forward-looking statements are based on beliefs and assumptions of Ultrapar management and on information currently available to the company. They involve risks and uncertainties, and assumptions, because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of Ultrapar and could cause results to differ materially from those expressed in such forward-looking statements.
Now, I'll turn the call over to Mr. Curado. Mr. Curado, you may begin.
Thank you and good morning to everyone. And it's a pleasure to be here as my first participation and one of the earnings calls. And I decided to do this because a year ago, November last year, we shared in our Ultra Day here in San Paulo, we shared a bit of a vision towards the future of our strategic direction. So I think it's a good opportunity to update all of you where we are interested. So I'll go quickly over the company and then talk a little bit about the consolidated picture. So starting with Ipiranga. I think, well Marcel has done a very good job in terms of bolstering a team in our organization, reducing costs, also being closer and closer to our resellers. There's a tremendous effort as well on the pricing models to get more artificial intelligence as far as our optimization of pricing.
And last but not least, the focus on having there adjacent businesses being managed and the whole follow up of the business in a dedicated way with experienced management, dedicated management, management which is responsible for their own P&L, I mean, management P&L. So, as a result of all that, so what I see in Ipiranga is a company which is getting more agile, getting more efficient and more competitive faster. It, of course, is a long term process, but I think definitely we are in the right direction. So quickly over to Extrafarma. I was particularly pleased with