HGTV Canada - Home and Garden Television Canada

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305417322 HGTV Canada - Home and Garden Television Canada HGTV Canada Inc. Shaw Communications Inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 10,840,945 11,306,713 4.30 12,349,505 9.22 13,213,309 6.99 13,906,801 5.25 6.4
DTH revenue 3,471,035 3,761,584 8.37 4,054,599 7.79 4,000,667 -1.33 4,616,435 15.39 7.4
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 56,800,046 59,408,637 4.59 55,920,827 -5.87 56,651,109 1.31 58,096,644 2.55 0.6
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 71,112,026 74,476,934 4.73 72,324,931 -2.89 73,865,085 2.13 76,619,880 3.73 1.9

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 33,784,460 34,352,175 1.68 31,943,595 -7.01 24,959,902 -21.86 25,620,925 2.65 -6.7
Technical 786,978 717,179 -8.87 735,374 2.54 700,590 -4.73 986,198 40.77 5.8
Sales and Promotion 1,891,260 2,886,220 52.61 1,307,073 -54.71 1,582,475 21.07 2,066,248 30.57 2.2
Administration and General 4,764,844 4,586,948 -3.73 3,802,528 -17.10 3,461,603 -8.97 3,882,929 12.17 -5.0
Total Expenses 41,227,542 42,542,522 3.19 37,788,570 -11.17 30,704,570 -18.75 32,556,300 6.03 -5.7

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 29,884,484 31,934,412 34,536,361 43,160,515 44,063,580
Depreciation 7,318 3,644 -50.20 304,955 >999± 319,596 4.80 319,596 0.00 157.1
P.B.I.T. 29,877,166 31,930,768 34,231,406 42,840,919 43,743,984
Interest Expense 173,068 -24,437 -114.12 -2,683 -89.02 16,794 -725.94 -48,505 -388.82
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit 29,704,098 31,955,205 34,234,089 42,824,125 43,792,489

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 28,166,914 29,597,525 5.08 25,615,267 -13.45 19,514,730 -23.82 20,069,157 2.84 -8.1
Script & concept 44,527 105,000 135.81 704,524 570.98 801,677 13.79 174,775 -78.20 40.8
Filler Programming + Program Production 2,250,995 2,357,640 4.74 2,688,550 14.04 2,371,765 -11.78 2,097,821 -11.55 -1.8
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 30,462,436 32,060,165 5.24 29,008,341 -9.52 22,688,172 -21.79 22,341,753 -1.53 -7.5
Canadian Programming/Revenue (%) 42.84 43.05 40.11 30.72 29.16

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 2,023,218 2,341,101 15.71 3,322,407 41.92 3,386,465 1.93 3,752,302 10.80 16.7
Total Staff Count 26 31 19.23 39 25.81 38 -2.56 41 7.89
Avg Remuneration 77,816 75,519 -2.95 85,190 12.81 89,118 4.61 91,520 2.70 4.1

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 7,756,329 8,309,463 7.13 8,697,847 4.67 9,018,881 3.69 7,250,430 -19.61 -1.7

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 42.0 42.9 47.8 58.4 57.5
P.B.I.T. Margin 42.0 42.9 47.3 58.0 57.1
Pre-tax Margin 41.8 42.9 47.3 58.0 57.2
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