Northwestel Inc., Yellowknife

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
535427878 Northwestel Inc., Yellowknife Northwestel Inc. BCE Inc. Video-on-Demand 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 667,488 782,133 17.18 896,614 14.64 819,178 -8.64 775,188 -5.37 3.8
DTH revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Local advertising revenue 183,224 111,916 -38.92 122,808 9.73 115,250 -6.15 74,714 -35.17 -20.1
National advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 850,712 894,049 5.09 1,019,422 14.02 934,428 -8.34 849,902 -9.05 0.0

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 460,766 648,595 40.76 660,845 1.89 465,585 -29.55 431,162 -7.39 -1.7
Technical 0 0 n/a 0 n/a 197,483 n/a 323,468 63.80 n/a
Sales and Promotion 38,099 87,808 130.47 87,220 -0.67 51,644 -40.79 21,754 -57.88 -13.1
Administration and General 39,100 54,100 38.36 54,100 0.00 130,952 142.06 116,661 -10.91 31.4
Total Expenses 537,965 790,503 46.94 802,165 1.48 845,664 5.42 893,045 5.60 13.5

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 312,747 103,546 217,257 88,764 -43,143
Depreciation 233,908 243,187 3.97 243,187 0.00 81,467 -66.50 114,981 41.14 -16.3
P.B.I.T. 78,839 -139,641 -25,930 7,297 -158,124
Interest Expense 0 0 n/a 0 n/a 0 n/a 12,899 n/a
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit 78,839 -139,641 -25,930 7,297 -171,023

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 1,000 12,385 >999± 20,221 63.27 0 -100.00 0 n/a -100.0
Script & concept 52,588 64,131 21.95 54,037 -15.74 0 -100.00 0 n/a -100.0
Filler Programming + Program Production 286,722 351,025 22.43 298,638 -14.92 0 -100.00 0 n/a -100.0
Investment in Programming 0 0 n/a 0 n/a 465,585 n/a 0 -100.00 n/a
Total Canadian Programming 340,310 427,541 25.63 372,896 -12.78 465,585 24.86 0 -100.00 -100.0
Canadian Programming/Revenue (%) 40.00 47.82 36.58 49.83 0.00

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 223,121 178,030 -20.21 178,030 0.00 286,266 60.80 298,607 4.31 7.6
Total Staff Count 1.25 1.5 20.00 1.5 0.00 1.85 23.33 1.85 0.00
Avg Remuneration 178,497 118,687 -33.51 118,687 0.00 154,738 30.38 161,409 4.31 -2.5

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 36.8 11.6 21.3 9.5 -5.1
P.B.I.T. Margin 9.3 -15.6 -2.5 0.8 -18.6
Pre-tax Margin 9.3 -15.6 -2.5 0.8 -20.1
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