Pay and Specialty - Super Écran

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
214300535 Super Écran Bell Media Inc. BCE Inc. Pay-TV (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 36,564,245 40,116,532 9.72 40,984,706 2.16 39,934,974 -2.56 37,801,302 -5.34 0.8
DTH revenue 27,387,565 25,380,275 -7.33 24,056,221 -5.22 23,263,327 -3.30 23,601,172 1.45 -3.7
Local advertising revenue 0 0 0 0 0
National advertising revenue 0 0 0 0 0
Other revenue 1,619,088 2,652,606 63.83 0 -100.00 0 0 -100.0
Total Revenue 65,570,898 68,149,413 3.93 65,040,927 -4.56 63,198,301 -2.83 61,402,474 -2.84 -1.6

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 38,936,117 39,019,192 0.21 37,372,932 -4.22 37,632,813 0.70 40,040,888 6.40 0.7
Technical 1,112,075 1,106,133 -0.53 1,150,667 4.03 810,348 -29.58 844,229 4.18 -6.7
Sales and Promotion 2,700,547 2,539,468 -5.96 1,430,084 -43.69 1,350,559 -5.56 2,482,362 83.80 -2.1
Administration and General 3,357,047 3,827,240 14.01 3,505,062 -8.42 945,522 -73.02 922,562 -2.43 -27.6
Total Expenses 46,105,786 46,492,033 0.84 43,458,745 -6.52 40,739,242 -6.26 44,290,041 8.72 -1.0

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 19,465,112 21,657,380 21,582,182 22,459,059 17,112,433
Depreciation 122,183 67,103 -45.08 60,588 -9.71 740,604 >999± 1,780,366 140.39 95.4
P.B.I.T. 19,342,929 21,590,277 21,521,594 21,718,455 15,332,067
Interest Expense 747,669 694,219 -7.15 722,168 4.03 0 -100.00 46,893
Adjustments - Gain (Loss) 0 0 0 0 -360,967
Pre-tax Profit 18,595,260 20,896,058 20,799,426 21,718,455 14,924,207

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 9,545,406 9,442,335 -1.08 8,735,177 -7.49 9,196,117 5.28 11,250,158 22.34 4.2
Script & concept 780,999 700,000 -10.37 700,000 0.00 700,000 0.00 425,014 -39.28 -14.1
Filler Programming + Program Production 2,013,696 2,082,140 3.40 1,979,843 -4.91 1,649,361 -16.69 1,937,848 17.49 -1.0
Investment in Programming 419,178 634,588 51.39 351,015 -44.69 434,764 23.86 -65,357 -115.03
Total Canadian Programming 12,759,279 12,859,063 0.78 11,766,035 -8.50 11,980,242 1.82 13,547,663 13.08 1.5
Canadian Programming/Revenue (%) 19.46 18.87 18.09 18.96 22.06

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 1,954,192 2,098,376 7.38 1,960,798 -6.56 928,093 -52.67 771,436 -16.88 -20.7
Average Staff Count 20 19 -5.00 21 10.53 11 -47.62 7 -36.36
Avg Remuneration ($) 97,710 110,441 13.03 93,371 -15.46 84,372 -9.64 110,205 30.62 3.1

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 632,799 644,419 1.84 628,845 -2.42 624,464 -0.70 616,698 -1.24 -0.6

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 29.7 31.8 33.2 35.5 27.9
P.B.I.T. Margin 29.5 31.7 33.1 34.4 25.0
Pre-tax Margin 28.4 30.7 32.0 34.4 24.3

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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