Pay and Specialty - Moi&cie (formerly Mlle)

Individual Pay, Pay-per-view, Video-on-demand and Specialty Services - Financial Summary 2011-2015

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
535430516 Moi&cie (formerly Mlle) Groupe TVA inc. Les Placements Péladeau inc. Specialty (category B service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 44,935 1,381,860 >999± 2,097,715 51.80 2,718,069 29.57 4,066,048 49.59 208.4
DTH revenue 0 466,045 977,400 109.72 1,170,016 19.71 849,503 -27.39
Local advertising revenue 0 0 0 0 0
National advertising revenue 322,346 728,491 126.00 431,181 -40.81 650,145 50.78 886,627 36.37 28.8
Other revenue 58,965 85,477 44.96 19,982 -76.62 22,731 13.76 38,265 68.34 -10.3
Total Revenue 426,246 2,661,873 524.49 3,526,278 32.47 4,560,961 29.34 5,840,443 28.05 92.4

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 1,414,293 4,011,442 183.64 5,838,531 45.55 6,698,346 14.73 6,114,348 -8.72 44.2
Technical 229,325 565,348 146.53 485,050 -14.20 241,615 -50.19 91,561 -62.10 -20.5
Sales and Promotion 950,493 295,707 -68.89 960,790 224.91 508,791 -47.04 517,211 1.65 -14.1
Administration and General 164,929 217,257 31.73 187,731 -13.59 232,532 23.86 209,357 -9.97 6.1
Total Expenses 2,759,040 5,089,754 84.48 7,472,102 46.81 7,681,284 2.80 6,932,477 -9.75 25.9

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income -2,332,794 -2,427,881 -3,945,824 -3,120,323 -1,092,034
Depreciation 165,200 100,000 -39.47 100,000 0.00 100,000 0.00 100,000 0.00 -11.8
P.B.I.T. -2,497,994 -2,527,881 -4,045,824 -3,220,323 -1,192,034
Interest Expense 155,800 156,417 0.40 160,623 2.69 127,555 -20.59 87,888 -31.10
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit -2,653,794 -2,684,298 -4,206,447 -3,347,878 -1,279,922

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 1,185,012 3,193,346 169.48 5,072,463 58.84 5,023,030 -0.97 4,382,073 -12.76 38.7
Script & concept 0 0 0 0 0
Filler Programming + Program Production 0 0 0 0 0
Investment in Programming 0 0 0 0 0
Total Canadian Programming 1,185,012 3,193,346 169.48 5,072,463 58.84 5,023,030 -0.97 4,382,073 -12.76 38.7
Canadian Programming/Revenue (%) 278.01 119.97 143.85 110.13 75.03

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 247,726 311,856 25.89 171,755 -44.92 103,533 -39.72 258,363 149.55 1.1
Average Staff Count 3 3 0.00 2 -33.33 2 0.00 3.18 59.00
Avg Remuneration ($) 82,575 103,952 25.89 85,878 -17.39 51,767 -39.72 81,246 56.95 -0.4

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 89,872 400,022 345.10 552,395 38.09 691,879 25.25 852,531 23.22 75.5

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin -547.3 -91.2 -111.9 -68.4 -18.7
P.B.I.T. Margin -586.0 -95.0 -114.7 -70.6 -20.4
Pre-tax Margin -622.6 -100.8 -119.3 -73.4 -21.9

CAGR = Compound Annual Growth Rate

DTH = Direct-to-Home

SMATV = Satellite Master Atenna Television

P.B.I.T. = Profit Before Interest and Tax

Var = Variation

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