Osx Brasil S.a.BMFBOVESPA: OSXB3

1Q16 Financials

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Microsoft Word - DF 31-03-2016 OSX Brasil_Final_ENG

Quarterly information (ITRs)

OSX Brasil S.A. - In Judicial Recovery (Publicly-held company)

March 31, 2016

with Independent auditors' report Review of Quarterly Information

OSX Brasil S.A. - In Judicial Recovery (Publicly-held company)

Quarterly information - ITR

March 31, 2016

Contents

Management report 1

Independent auditor's Review Report on Quarterly Information - ITR, issued with disclaimer

of conclusion 2

Quarterly information

Balance sheets 6

Statements of income 8

Statements of comprehensive income 10

Statements of changes in shareholders' equity 11

Statements of cash flows 12

Statements of added-value 13

Notes to the quarterly information 14

Management report Performance comment

OSX Brasil S.A. - In Judicial Recovery ("OSX" or the "Company") (BM&FBovespa: OSXB3) announces its results for the first quarter of 2016. The financial information is presented on a solo and consolidated basis, in accordance with accounting practices adopted in Brazil and in accordance with international standards of IFRS ("IFRS") issued by the International Accounting Standards Board - IASB and thousands of Reais except where indicated otherwise.

Rio de Janeiro, June 08, 2016.

OSX Brasil S.A. - In Judicial Recovery

Balance sheets

March 31, 2016 and December 31, 2015 (In thousands of reais)

Assets Current assets

Parent company Consolidated Note 03/31/2016 12/31/2015 03/31/2016 12/31/2015

Cash and cash equivalents

5

95

12

12,963

9,359

Financial assets available for sale

6

-

-

10,816

11,868

Restricted cash

7

-

-

39,035

53,137

Trade accounts receivable

8

-

-

9,213

24,275

Sundry advances

16

82

43

10,466

9,838

Inventories

9

-

-

7,839

9,408

Prepaid expenses

335

497

7,079

8,271

Assets for sale

11

- - 3,611,902 3,962,954

Total current assets

512 552 3,709,313 4,089,110

Non-current assets

Related parties

22

463,902

446,394

1,478

1,578

Prepaid expenses

-

-

2,837

4,743

Recoverable taxes

10

47,094

48,690

64,157

65,643

Other accounts receivable 1,653 1,654 1,996 1,888 512,649 496,738 70,468 73,852

Investments

13

1,409 1,382 29,028 29,887

Property, plant and equipment

14

218 244 3,806,766 4,071,664

Intangible assets

15

5,205 5,845 5,722 6,420

Total non-current assets

519,481 504,209 3,911,984 4,181,823

Total assets 519,993 504,761 7,621,297 8,270,933

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