Évasion (formerly Canal Évasion)

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
205421548 Évasion (formerly Canal Évasion) Canal Évasion inc. Groupe Serdy inc. Specialty (category A service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 6,550,953 6,618,989 1.04 6,727,436 1.64 6,475,004 -3.75 6,740,789 4.10 0.7
DTH revenue 1,989,370 2,061,083 3.60 2,063,547 0.12 2,072,477 0.43 2,105,845 1.61 1.4
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 3,040,285 3,891,540 28.00 3,864,539 -0.69 3,668,311 -5.08 2,552,099 -30.43 -4.3
Other revenue 14,964 35 -99.77 -158 -551.43 -500 216.46 42 -108.40
Total Revenue 11,595,572 12,571,647 8.42 12,655,364 0.67 12,215,292 -3.48 11,398,775 -6.68 -0.4

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 5,970,199 7,193,835 20.50 7,572,670 5.27 7,138,997 -5.73 7,218,602 1.12 4.9
Technical 631,241 742,629 17.65 813,561 9.55 715,697 -12.03 679,621 -5.04 1.9
Sales and Promotion 1,377,897 1,637,115 18.81 1,552,975 -5.14 1,482,194 -4.56 1,259,787 -15.01 -2.2
Administration and General 1,673,243 1,845,943 10.32 1,751,461 -5.12 1,751,087 -0.02 1,461,552 -16.53 -3.3
Total Expenses 9,652,580 11,419,522 18.31 11,690,667 2.37 11,087,975 -5.16 10,619,562 -4.22 2.4

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 1,942,992 1,152,125 964,697 1,127,317 779,213
Depreciation 167,254 182,091 8.87 127,990 -29.71 77,021 -39.82 34,917 -54.67 -32.4
P.B.I.T. 1,775,738 970,034 836,707 1,050,296 744,296
Interest Expense 11,122 2,569 -76.90 7,233 181.55 4,009 -44.57 7,779 94.04
Adjustments - Gain (Loss) 206,954 70,888 -65.75 98,335 38.72 178,242 81.26 202,509 13.61
Pre-tax Profit 1,971,570 1,038,353 927,809 1,224,529 939,026

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 611,666 4,118,786 573.37 4,048,050 -1.72 3,997,693 -1.24 4,625,795 15.71 65.8
Script & concept 0 0 n/a 140,000 n/a 29,648 -78.82 1,002 -96.62 n/a
Filler Programming + Program Production 3,922,440 1,328,888 -66.12 1,626,465 22.39 1,593,305 -2.04 1,165,450 -26.85 -26.2
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 4,534,106 5,447,674 20.15 5,814,515 6.73 5,620,646 -3.33 5,792,247 3.05 6.3
Canadian Programming/Revenue (%) 39.10 43.33 45.95 46.01 50.81

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 1,533,071 1,598,790 4.29 1,473,160 -7.86 1,454,275 -1.28 1,232,909 -15.22 -5.3
Total Staff Count 15.79 16.5 4.50 16.17 -2.00 15.75 -2.60 13.13 -16.63
Avg Remuneration 97,091 96,896 -0.20 91,105 -5.98 92,335 1.35 93,900 1.70 -0.8

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 2,028,659 2,072,442 2.16 2,050,587 -1.05 2,031,946 -0.91 2,013,886 -0.89 -0.2

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 16.8 9.2 7.6 9.2 6.8
P.B.I.T. Margin 15.3 7.7 6.6 8.6 6.5
Pre-tax Margin 17.0 8.3 7.3 10.0 8.2
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