Pay and Specialty - TELUS Communications Company, Edmonton

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
535417738 TELUS Communications Company, Edmonton TELUS Communications Company TELUS Corporation Video-on-Demand 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 13,988,975 18,935,085 35.36 26,702,468 41.02 30,473,268 14.12 17,975,250 -41.01 6.5
DTH revenue 0 0 0 0 0
Local advertising revenue 0 0 0 0 0
National advertising revenue 0 0 0 0 0
Other revenue 0 0 0 0 0
Total Revenue 13,988,975 18,935,085 35.36 26,702,468 41.02 30,473,268 14.12 17,975,250 -41.01 6.5

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 12,344,154 21,825,476 76.81 31,106,378 42.52 37,052,591 19.12 39,208,058 5.82 33.5
Technical 13,680,746 10,201,272 -25.43 10,789,220 5.76 12,572,674 16.53 14,021,762 11.53 0.6
Sales and Promotion 2,773,246 2,040,131 -26.44 2,541,507 24.58 2,825,038 11.16 2,439,107 -13.66 -3.2
Administration and General 3,626,020 3,107,629 -14.30 6,981,691 124.66 7,796,845 11.68 8,428,319 8.10 23.5
Total Expenses 32,424,166 37,174,508 14.65 51,418,796 38.32 60,247,148 17.17 64,097,246 6.39 18.6

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income -18,435,191 -18,239,423 -24,716,328 -29,773,880 -46,121,996
Depreciation 0 0 -26,336,012 1,275,897 -104.84 0 -100.00
P.B.I.T. -18,435,191 -18,239,423 1,619,684 -31,049,777 -46,121,996
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit -18,435,191 -18,239,423 1,619,684 -31,049,777 -46,121,996

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 0 0 0 0 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 0 0 0 0 0
Canadian Programming/Revenue (%) 0.00 0.00 0.00 0.00 0.00

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 15,326,007 11,664,450 -23.89 15,680,466 34.43 16,275,915 3.80 17,052,180 4.77 2.7
Average Staff Count 85 69 -18.82 126 82.61 130 3.17 140 7.69
Avg Remuneration ($) 180,306 169,050 -6.24 124,448 -26.38 125,199 0.60 121,801 -2.71 -9.3

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin -131.8 -96.3 -92.6 -97.7 -256.6
P.B.I.T. Margin -131.8 -96.3 6.1 -101.9 -256.6
Pre-tax Margin -131.8 -96.3 6.1 -101.9 -256.6

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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