Canal D

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
215413790 Canal D Bell Media Inc. BCE Inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 16,304,326 17,330,497 6.29 17,139,340 -1.10 17,339,744 1.17 16,229,788 -6.40 -0.1
DTH revenue 5,269,023 5,367,211 1.86 6,466,482 20.48 6,421,956 -0.69 6,134,450 -4.48 3.9
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 13,895,712 15,702,087 13.00 16,585,847 5.63 22,283,819 34.35 21,914,822 -1.66 12.1
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 35,469,061 38,399,795 8.26 40,191,669 4.67 46,045,519 14.56 44,279,060 -3.84 5.7

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 13,695,864 14,651,021 6.97 15,088,673 2.99 13,136,143 -12.94 14,995,628 14.16 2.3
Technical 1,012,927 1,001,692 -1.11 903,757 -9.78 945,948 4.67 326,505 -65.48 -24.7
Sales and Promotion 1,266,032 1,489,021 17.61 1,647,948 10.67 5,534,722 235.86 4,259,340 -23.04 35.4
Administration and General 1,342,180 2,008,617 49.65 2,020,129 0.57 2,233,515 10.56 1,897,582 -15.04 9.0
Total Expenses 17,317,003 19,150,351 10.59 19,660,507 2.66 21,850,328 11.14 21,479,055 -1.70 5.5

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 18,152,058 19,249,444 20,531,162 24,195,191 22,800,005
Depreciation 95,629 90,681 -5.17 93,869 3.52 221,238 135.69 608,636 175.10 58.8
P.B.I.T. 18,056,429 19,158,763 20,437,293 23,973,953 22,191,369
Interest Expense 0 0 n/a 0 n/a 0 n/a 61,672 n/a
Adjustments - Gain (Loss) 65,355 254,798 289.87 234,797 -7.85 166,583 -29.05 5,878 -96.47
Pre-tax Profit 18,121,784 19,413,561 20,672,090 24,140,536 22,135,575

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 9,941,200 10,556,970 6.19 10,939,796 3.63 9,817,556 -10.26 10,601,546 7.99 1.6
Script & concept 31,400 109,397 248.40 56,374 -48.47 63,802 13.18 76,293 19.58 24.9
Filler Programming + Program Production 1,954,818 1,997,569 2.19 1,890,666 -5.35 1,849,405 -2.18 2,290,510 23.85 4.0
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 11,927,418 12,663,936 6.17 12,886,836 1.76 11,730,763 -8.97 12,968,349 10.55 2.1
Canadian Programming/Revenue (%) 33.63 32.98 32.06 25.48 29.29

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 3,113,317 3,277,278 5.27 3,097,950 -5.47 3,393,948 9.55 2,349,187 -30.78 -6.8
Total Staff Count 30 31 3.33 32 3.23 33 3.13 25 -24.24
Avg Remuneration 103,777 105,719 1.87 96,811 -8.43 102,847 6.23 93,967 -8.63 -2.5

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 2,590,910 2,611,310 0.79 2,599,858 -0.44 2,549,210 -1.95 2,512,377 -1.44 -0.8

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 51.2 50.1 51.1 52.5 51.5
P.B.I.T. Margin 50.9 49.9 50.8 52.1 50.1
Pre-tax Margin 51.1 50.6 51.4 52.4 50.0
Date modified: