CEMAR announced consolidated earnings results for the fourth quarter and full year of 2015. For the quarter, the company's net operating revenues were BRL 781 million against BRL 938 million a year ago. EBITDA was BRL 146 million against BRL 372 million a year ago. Service income (EBIT) was BRL 104 million against BRL 329 million a year ago. Financial result was BRL 45 million against loss of BRL 30 million a year ago. Earnings before taxes (EBT) were BRL 149 million against BRL 299 million a year ago. Net income was BRL 123 million against BRL 224 million a year ago. Accounting EBITDA (CVM) was BRL 146 million against BRL 370 million a year ago. Adjusted accounting EBITDA was BRL 168 million against BRL 370 million a year ago. Regulatory EBITDA was BRL 168 million against BRL 161 million a year ago. Accounting net income was BRL 123 million against BRL 224 million a year ago. Adjusted accounting net income was BRL 121 million against BRL 223 million a year ago. Adjusted regulatory net income was BRL 121 million against BRL 17 million a year ago.

For the year, the company's net operating revenues were BRL 2,743 million against BRL 2,484 million a year ago. EBITDA was BRL 578 million against BRL 641 million a year ago. Service income (EBIT) was BRL 423 million against BRL 494 million a year ago. Financial result was BRL 20 million against loss of BRL 94 million a year ago. Earnings before taxes (EBT) were BRL 443 million against BRL 401 million a year ago. Net income was BRL 364 million against BRL 335 million a year ago. Accounting EBITDA (CVM) was BRL 578 million against BRL 641 million a year ago. Adjusted accounting EBITDA was BRL 623 million against BRL 640 million a year ago. Regulatory EBITDA was BRL 623 million against BRL 571 million a year ago. Accounting net income was BRL 364 million against BRL 335 million a year ago. Adjusted accounting net income was BRL 377 million against BRL 362 million a year ago. Adjusted regulatory net income was BRL 377 million against BRL 375 million a year ago.