Non-vertically Integrated Companies - Category B Specialty Services

Table of Contents

Reporting Units
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
($)       Reporting Units 67 74 91 99 96

Revenue
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 59,575,370 69,991,892 17.48 82,760,194 18.24 94,384,523 14.05 92,027,107 -2.50 11.5
DTH revenue 45,588,193 47,143,404 3.41 48,153,871 2.14 57,443,232 19.29 53,576,213 -6.73 4.1
Local advertising revenue 2,807,256 3,876,448 38.09 4,413,514 13.85 5,713,262 29.45 6,565,244 14.91 23.7
National advertising revenue 18,689,948 25,806,951 38.08 31,360,554 21.52 38,398,529 22.44 38,198,826 -0.52 19.6
Other revenue 15,008,654 15,868,215 5.73 15,030,322 -5.28 18,750,431 24.75 17,881,607 -4.63 4.5
Total Revenue 141,669,421 162,686,910 14.84 181,718,455 11.70 214,689,977 18.14 208,248,997 -3.00 10.1

Expenses
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 53,995,903 64,890,131 20.18 82,675,220 27.41 104,723,792 26.67 99,584,733 -4.91 16.5
Technical 23,808,255 24,241,247 1.82 26,525,776 9.42 26,630,111 0.39 24,287,773 -8.80 0.5
Sales and Promotion 14,720,640 16,746,218 13.76 19,255,130 14.98 19,660,981 2.11 14,574,668 -25.87 -0.3
Administration and General 35,258,459 39,568,544 12.22 38,003,642 -3.95 39,350,003 3.54 42,651,885 8.39 4.9
Total Expenses 127,783,257 145,446,140 13.82 166,459,768 14.45 190,364,887 14.36 181,099,059 -4.87 9.1
Operating Income 13,886,164 17,240,770 15,258,687 24,325,090 27,149,938
Depreciation 4,263,502 3,619,590 -15.10 5,607,449 54.92 6,355,160 13.33 5,485,887 -13.68 6.5
P.B.I.T. 9,622,662 13,621,180 9,651,238 17,969,930 21,664,051
Interest Expense 4,415,894 9,007,092 103.97 1,369,392 -84.80 2,875,730 110.00 2,982,200 3.70
Adjustments - Gain (Loss) -4,288,830 -638,826 -3,611,366 -3,009,685 166,267
Pre-tax Profit 917,938 3,975,262 4,670,480 12,084,515 18,848,118

Canadian Programming Expenses
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 9,209,365 10,668,477 15.84 14,378,573 34.78 17,677,017 22.94 9,156,172 -48.20 -0.1
Script & concept 571,697 733,358 28.28 1,045,782 42.60 946,652 -9.48 1,160,992 22.64 19.4
Filler Programming + Program Production 17,868,073 22,624,163 26.62 27,622,431 22.09 29,232,618 5.83 30,205,623 3.33 14.0
Investment in Programming 1,543,707 1,078,554 -30.13 1,540,489 42.83 1,367,410 -11.24 1,512,095 10.58 -0.5
Total Canadian Programming 29,192,842 35,104,552 20.25 44,587,275 27.01 49,223,697 10.40 42,034,882 -14.60 9.5
Canadian Programming/Revenue (%) 20.61 21.58 24.54 22.93 20.18
Total Remuneration 31,619,575 33,234,580 5.11 41,198,569 23.96 42,649,125 3.52 34,750,634 -18.52 2.4
Total Staff Count 650.86 683.84 5.07 755.40 10.46 763.58 1.08 867.16 13.57
Avg Remuneration 48,581 48,600 0.04 54,539 12.22 55,854 2.41 40,074 -28.25 -4.7
Avg Remuneration excl. Benefits ($) 35,002

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 9.8 10.6 8.4 11.3 13.0
P.B.I.T. Margin 6.8 8.4 5.3 8.4 10.4
Pre-tax Margin 0.6 2.4 2.6 5.6 9.1
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