ARGENT (formerly LCN Argent)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
205424097 ARGENT (formerly LCN Argent) Groupe TVA inc. Les Placements Péladeau inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 2,676,371 2,759,830 3.12 1,723,834 -37.54 1,296,591 -24.78 1,293,837 -0.21 -16.6
DTH revenue 1,272,361 1,326,626 4.26 1,384,270 4.35 1,233,858 -10.87 997,059 -19.19 -5.9
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 136,359 84,126 -38.31 51,219 -39.12 76,673 49.70 52,014 -32.16 -21.4
Other revenue 34,052 14,044 -58.76 24,813 76.68 13,691 -44.82 11,405 -16.70
Total Revenue 4,119,143 4,184,626 1.59 3,184,136 -23.91 2,620,813 -17.69 2,354,315 -10.17 -13.1

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 1,938,159 2,031,725 4.83 2,033,203 0.07 2,009,520 -1.16 1,857,775 -7.55 -1.1
Technical 298,182 455,582 52.79 561,959 23.35 344,650 -38.67 184,625 -46.43 -11.3
Sales and Promotion 298,970 135,320 -54.74 55,986 -58.63 31,685 -43.41 38,806 22.47 -40.0
Administration and General 682,212 523,780 -23.22 425,795 -18.71 613,183 44.01 580,738 -5.29 -4.0
Total Expenses 3,217,523 3,146,407 -2.21 3,076,943 -2.21 2,999,038 -2.53 2,661,944 -11.24 -4.6

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 901,620 1,038,219 107,193 -378,225 -307,629
Depreciation 225,886 226,000 0.05 226,000 0.00 226,000 0.00 226,000 0.00 0.0
P.B.I.T. 675,734 812,219 -118,807 -604,225 -533,629
Interest Expense 249,304 224,000 -10.15 250,990 12.05 257,739 2.69 204,677 -20.59
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit 426,430 588,219 -369,797 -861,964 -738,306

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 1,665,313 1,747,906 4.96 0 -100.00 0 n/a 0 n/a -100.0
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 0 0 n/a 2,023,394 n/a 2,004,566 -0.93 1,857,775 -7.32 n/a
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 1,665,313 1,747,906 4.96 2,023,394 15.76 2,004,566 -0.93 1,857,775 -7.32 2.8
Canadian Programming/Revenue (%) 40.43 41.77 63.55 76.49 78.91

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 1,615,365 1,553,567 -3.83 1,688,095 8.66 1,549,393 -8.22 1,458,823 -5.85 -2.5
Total Staff Count 13 15 15.38 16 6.67 16 0.00 15 -6.25
Avg Remuneration 124,259 103,571 -16.65 105,506 1.87 96,837 -8.22 97,255 0.43 -5.9

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 957,961 950,027 -0.83 655,594 -30.99 549,887 -16.12 551,942 0.37 -12.9

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 21.9 24.8 3.4 -14.4 -13.1
P.B.I.T. Margin 16.4 19.4 -3.7 -23.1 -22.7
Pre-tax Margin 10.4 14.1 -11.6 -32.9 -31.4
Date modified: