Pay and Specialty - Prise 2 (formerly Nostalgie)

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
535421284 Prise 2 (formerly Nostalgie) 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 2,599,630 3,147,881 21.09 3,619,446 14.98 4,061,055 12.20 4,951,689 21.93 17.5
DTH revenue 2,045,183 2,085,280 1.96 2,159,215 3.55 2,241,673 3.82 1,635,674 -27.03 -5.4
Local advertising revenue 0 0 0 0 0
National advertising revenue 768,797 834,449 8.54 1,542,815 84.89 2,097,628 35.96 2,398,141 14.33 32.9
Other revenue 8,826 44,657 405.97 95,517 113.89 85,933 -10.03 67,427 -21.54 66.3
Total Revenue 5,422,436 6,112,267 12.72 7,416,993 21.35 8,486,289 14.42 9,052,931 6.68 13.7

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 3,036,172 3,378,301 11.27 3,939,191 16.60 4,724,022 19.92 4,813,974 1.90 12.2
Technical 524,504 715,982 36.51 579,667 -19.04 446,370 -23.00 337,389 -24.41 -10.4
Sales and Promotion 407,345 437,103 7.31 606,845 38.83 501,431 -17.37 896,966 78.88 21.8
Administration and General 109,929 94,724 -13.83 154,198 62.79 344,488 123.41 367,618 6.71 35.2
Total Expenses 4,077,950 4,626,110 13.44 5,279,901 14.13 6,016,311 13.95 6,415,947 6.64 12.0

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 1,344,486 1,486,157 2,137,092 2,469,978 2,636,984
Depreciation 100,000 100,000 0.00 100,000 0.00 100,000 0.00 100,000 0.00 0.0
P.B.I.T. 1,244,486 1,386,157 2,037,092 2,369,978 2,536,984
Interest Expense 105,000 200,792 91.23 206,191 2.69 163,741 -20.59 112,821 -31.10
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 1,139,486 1,185,365 1,830,901 2,206,237 2,424,163

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 1,068,329 1,282,418 20.04 1,987,047 54.95 3,048,537 53.42 3,441,773 12.90 34.0
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 1,068,329 1,282,418 20.04 1,987,047 54.95 3,048,537 53.42 3,441,773 12.90 34.0
Canadian Programming/Revenue (%) 19.70 20.98 26.79 35.92 38.02

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 167,717 222,443 32.63 160,272 -27.95 107,265 -33.07 235,032 119.11 8.8
Average Staff Count 2 2 0.00 2 0.00 2 0.00 2.16 8.00
Avg Remuneration ($) 83,859 111,222 32.63 80,136 -27.95 53,633 -33.07 108,811 102.88 6.7

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 798,905 888,940 11.27 983,554 10.64 1,065,173 8.30 1,133,904 6.45 9.2

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 24.8 24.3 28.8 29.1 29.1
P.B.I.T. Margin 23.0 22.7 27.5 27.9 28.0
Pre-tax Margin 21.0 19.4 24.7 26.0 26.8

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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