Slice

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
315413724 Slice Life Network 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 10,969,682 10,756,752 -1.94 10,643,040 -1.06 10,585,538 -0.54 10,929,814 3.25 -0.1
DTH revenue 3,263,855 3,248,789 -0.46 3,203,619 -1.39 2,737,280 -14.56 2,131,438 -22.13 -10.1
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 21,902,983 25,862,777 18.08 27,287,161 5.51 29,369,674 7.63 30,327,863 3.26 8.5
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 36,136,520 39,868,318 10.33 41,133,820 3.17 42,692,492 3.79 43,389,115 1.63 4.7

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 25,665,111 27,659,722 7.77 28,352,158 2.50 33,519,156 18.22 30,973,533 -7.59 4.8
Technical 913,635 717,179 -21.50 729,463 1.71 719,634 -1.35 749,096 4.09 -4.8
Sales and Promotion 1,027,351 1,099,683 7.04 1,543,844 40.39 1,291,413 -16.35 699,738 -45.82 -9.2
Administration and General 2,513,480 2,493,930 -0.78 1,901,212 -23.77 2,026,957 6.61 2,406,996 18.75 -1.1
Total Expenses 30,119,577 31,970,514 6.15 32,526,677 1.74 37,557,160 15.47 34,829,363 -7.26 3.7

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 6,016,943 7,897,804 8,607,143 5,135,332 8,559,752
Depreciation 0 0 n/a 13,147 n/a 42,571 223.81 171,849 303.68 n/a
P.B.I.T. 6,016,943 7,897,804 8,593,996 5,092,761 8,387,903
Interest Expense 1,780,138 1,598,333 -10.21 2,075,528 29.86 2,265,993 9.18 2,255,512 -0.46
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit 4,236,805 6,299,471 6,518,468 2,826,768 6,132,391

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 21,226,383 23,456,950 10.51 21,913,517 -6.58 25,795,709 17.72 23,563,764 -8.65 2.7
Script & concept 220,600 72,500 -67.14 215,832 197.70 199,675 -7.49 0 -100.00 -100.0
Filler Programming + Program Production 1,128,493 1,231,796 9.15 1,586,099 28.76 1,802,119 13.62 1,682,949 -6.61 10.5
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 22,575,476 24,761,246 9.68 23,715,448 -4.22 27,797,503 17.21 25,246,713 -9.18 2.8
Canadian Programming/Revenue (%) 62.47 62.11 57.65 65.11 58.19

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 1,405,256 1,597,687 13.69 2,256,654 41.25 2,265,931 0.41 2,499,038 10.29 15.5
Total Staff Count 18 21 16.67 26 23.81 25 -3.85 28 12.00
Avg Remuneration 78,070 76,080 -2.55 86,794 14.08 90,637 4.43 89,251 -1.53 3.4

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 6,639,067 6,515,479 -1.86 6,079,242 -6.70 5,461,976 -10.15 5,230,139 -4.24 -5.8

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 16.7 19.8 20.9 12.0 19.7
P.B.I.T. Margin 16.7 19.8 20.9 11.9 19.3
Pre-tax Margin 11.7 15.8 15.8 6.6 14.1
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