Super Écran

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
214300535 Super Écran Bell Media Inc. BCE Inc. Pay-TV (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 34,579,495 36,564,245 5.74 40,116,532 9.72 40,984,706 2.16 39,934,974 -2.56 3.7
DTH revenue 27,561,547 27,387,565 -0.63 25,380,275 -7.33 24,056,221 -5.22 23,263,327 -3.30 -4.2
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 1,488,864 1,619,088 8.75 2,652,606 63.83 0 -100.00 0 n/a
Total Revenue 63,629,906 65,570,898 3.05 68,149,413 3.93 65,040,927 -4.56 63,198,301 -2.83 -0.2

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 37,015,227 38,936,117 5.19 39,019,192 0.21 37,372,932 -4.22 37,632,813 0.70 0.4
Technical 1,086,753 1,112,075 2.33 1,106,133 -0.53 1,150,667 4.03 810,348 -29.58 -7.1
Sales and Promotion 2,398,556 2,700,547 12.59 2,539,468 -5.96 1,430,084 -43.69 1,350,559 -5.56 -13.4
Administration and General 3,159,194 3,357,047 6.26 3,827,240 14.01 3,505,062 -8.42 945,522 -73.02 -26.0
Total Expenses 43,659,730 46,105,786 5.60 46,492,033 0.84 43,458,745 -6.52 40,739,242 -6.26 -1.7

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 19,970,176 19,465,112 21,657,380 21,582,182 22,459,059
Depreciation 171,955 122,183 -28.94 67,103 -45.08 60,588 -9.71 740,604 >999± 44.1
P.B.I.T. 19,798,221 19,342,929 21,590,277 21,521,594 21,718,455
Interest Expense 674,974 747,669 10.77 694,219 -7.15 722,168 4.03 0 -100.00
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit 19,123,247 18,595,260 20,896,058 20,799,426 21,718,455

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 10,256,382 9,545,406 -6.93 9,442,335 -1.08 8,735,177 -7.49 9,196,117 5.28 -2.7
Script & concept 774,441 780,999 0.85 700,000 -10.37 700,000 0.00 700,000 0.00 -2.5
Filler Programming + Program Production 1,817,199 2,013,696 10.81 2,082,140 3.40 1,979,843 -4.91 1,649,361 -16.69 -2.4
Investment in Programming 655,168 419,178 -36.02 634,588 51.39 351,015 -44.69 434,764 23.86 -9.7
Total Canadian Programming 13,503,190 12,759,279 -5.51 12,859,063 0.78 11,766,035 -8.50 11,980,242 1.82 -3.0
Canadian Programming/Revenue (%) 21.22 19.46 18.87 18.09 18.96

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 1,806,164 1,954,192 8.20 2,098,376 7.38 1,960,798 -6.56 928,093 -52.67 -15.3
Total Staff Count 19 20 5.26 19 -5.00 21 10.53 11 -47.62
Avg Remuneration 95,061 97,710 2.79 110,441 13.03 93,371 -15.46 84,372 -9.64 -2.9

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 626,848 632,799 0.95 644,419 1.84 628,845 -2.42 624,464 -0.70 -0.1

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 31.4 29.7 31.8 33.2 35.5
P.B.I.T. Margin 31.1 29.5 31.7 33.1 34.4
Pre-tax Margin 30.1 28.4 30.7 32.0 34.4
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