Family Channel (formerly Family)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
314600859 Family Channel (formerly Family) DHX Television Ltd. Boivin, Pierre (Trustee/fiduciaire) Pay-TV (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 46,199,380 46,947,540 1.62 47,452,922 1.08 47,932,574 1.01 46,170,270 -3.68 0.0
DTH revenue 14,860,214 15,038,471 1.20 14,290,462 -4.97 14,029,991 -1.82 15,197,925 8.32 0.6
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other revenue 685,921 1,293,980 88.65 2,854,917 120.63 5,051,494 76.94 9,652,066 91.07
Total Revenue 61,745,515 63,279,991 2.49 64,598,301 2.08 67,014,059 3.74 71,020,261 5.98 3.6

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 22,739,770 24,593,721 8.15 26,063,669 5.98 27,885,125 6.99 27,262,531 -2.23 4.6
Technical 1,207,786 1,227,477 1.63 1,073,370 -12.55 1,184,063 10.31 1,506,095 27.20 5.7
Sales and Promotion 13,535,212 13,089,849 -3.29 12,504,865 -4.47 13,921,315 11.33 14,800,617 6.32 2.3
Administration and General 2,170,066 3,934,461 81.31 3,832,711 -2.59 3,839,543 0.18 3,033,625 -20.99 8.7
Total Expenses 39,652,834 42,845,508 8.05 43,474,615 1.47 46,830,046 7.72 46,602,868 -0.49 4.1

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 22,092,681 20,434,483 21,123,686 20,184,013 24,417,393
Depreciation 114,453 164,689 43.89 280,334 70.22 279,274 -0.38 220,302 -21.12 17.8
P.B.I.T. 21,978,228 20,269,794 20,843,352 19,904,739 24,197,091
Interest Expense 3,573,371 4,720,460 32.10 4,691,500 -0.61 3,894,930 -16.98 0 -100.00
Adjustments - Gain (Loss) 14,736,321 16,248,683 10.26 15,638,451 -3.76 12,957,566 -17.14 0 -100.00
Pre-tax Profit 33,141,178 31,798,017 31,790,303 28,967,375 24,197,091

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 6,725,870 7,467,655 11.03 8,367,967 12.06 8,962,558 7.11 8,860,415 -1.14 7.1
Script & concept 830,684 948,534 14.19 812,755 -14.31 1,033,139 27.12 352,623 -65.87 -19.3
Filler Programming + Program Production 1,321,563 1,348,701 2.05 1,567,622 16.23 1,502,206 -4.17 2,112,862 40.65 12.5
Investment in Programming 0 437,200 n/a 412,480 -5.65 91,284 -77.87 3,321 -96.36 n/a
Total Canadian Programming 8,878,117 10,202,090 14.91 11,160,824 9.40 11,589,187 3.84 11,329,221 -2.24 6.3
Canadian Programming/Revenue (%) 14.38 16.12 17.28 17.29 15.95

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 2,800,305 3,675,787 31.26 5,065,565 37.81 4,737,204 -6.48 5,626,406 18.77 19.1
Total Staff Count 43 48 11.63 44 -8.33 66 50.00 66 0.00
Avg Remuneration 65,123 76,579 17.59 115,126 50.34 71,776 -37.65 85,249 18.77 7.0

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 6,031,428 5,936,794 -1.57 5,753,571 -3.09 5,726,126 -0.48 5,467,587 -4.52 -2.4

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 35.8 32.3 32.7 30.1 34.4
P.B.I.T. Margin 35.6 32.0 32.3 29.7 34.1
Pre-tax Margin 53.7 50.2 49.2 43.2 34.1
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