ATN Caribbean (CBN)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305425292 ATN Caribbean (CBN) 1272558 Ontario Inc. Asian Television Network International Limited Pay-TV (category B service) 2011
305425292 ATN Caribbean (CBN) 1272558 Ontario Inc. Chandrasekar, Shan Pay-TV (category B service) 2011

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue
DTH revenue 259,257 231,008 -10.90 -100.00 n/a
Local advertising revenue 481,478 429,016 -10.90 -100.00 n/a
National advertising revenue 32,080 134,276 318.57 -100.00 n/a
Other revenue 17,274 72,302 318.56 -100.00 n/a
Total Revenue 0 0 n/a n/a

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production
Technical 1,592,290 1,247,369 -21.66 -100.00 n/a
Sales and Promotion 81,353 60,660 -25.44 -100.00 n/a
Administration and General 32,328 59,517 84.10 -100.00 n/a
Total Expenses 97,814 100,942 3.20 -100.00 n/a

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 1,803,785 1,468,488 -18.59 n/a
Depreciation -1,013,696 -601,886
P.B.I.T. 9,063 6,096 -32.74 -100.00 n/a
Interest Expense -1,022,759 -607,982
Adjustments - Gain (Loss) 2,725 -403 -114.79 -100.00
Pre-tax Profit 4,762 -16 -100.34 -100.00

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights
Script & concept 0 0 n/a n/a n/a
Filler Programming + Program Production 0 0 n/a n/a n/a
Investment in Programming 302,259 292,980 -3.07 -100.00 n/a
Total Canadian Programming 0 0 n/a n/a n/a
Canadian Programming/Revenue (%) 302,259 292,980 -3.07 -100.00 n/a

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 38.26 33.81
Total Staff Count 158,634 151,505 -4.49 -100.00 n/a
Avg Remuneration 4 4 0.00 -100.00

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 39,659 37,876 -4.49 -100.00 n/a

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin
P.B.I.T. Margin -128.3 -69.5
Pre-tax Margin -129.4 -70.2
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