Pay and Specialty - The Weather Network / MétéoMédia

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
214301194 The Weather Network / MétéoMédia Pelmorex Communications Inc. Pelmorex Investments Inc. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 22,900,686 23,393,424 2.15 23,870,896 2.04 24,499,628 2.63 24,190,240 -1.26 1.4
DTH revenue 7,777,821 7,727,874 -0.64 7,468,298 -3.36 7,151,372 -4.24 6,681,282 -6.57 -3.7
Local advertising revenue 0 0 0 0 0
National advertising revenue 18,236,451 19,001,825 4.20 19,336,119 1.76 15,725,726 -18.67 11,754,703 -25.25 -10.4
Other revenue 220,118 251,744 14.37 152,527 -39.41 81,605 -46.50 67,476 -17.31 -25.6
Total Revenue 49,135,076 50,374,867 2.52 50,827,840 0.90 47,458,331 -6.63 42,693,701 -10.04 -3.5

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 20,715,231 22,489,623 8.57 23,062,400 2.55 23,312,726 1.09 24,577,642 5.43 4.4
Technical 2,630,908 2,948,683 12.08 2,896,151 -1.78 2,884,316 -0.41 2,820,808 -2.20 1.8
Sales and Promotion 3,034,004 2,686,619 -11.45 2,842,720 5.81 3,154,114 10.95 2,470,376 -21.68 -5.0
Administration and General 9,289,787 8,873,788 -4.48 8,735,998 -1.55 8,287,227 -5.14 7,846,106 -5.32 -4.1
Total Expenses 35,669,930 36,998,713 3.73 37,537,269 1.46 37,638,383 0.27 37,714,932 0.20 1.4

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 13,465,146 13,376,154 13,290,571 9,819,948 4,978,769
Depreciation 2,695,657 2,399,745 -10.98 2,674,486 11.45 2,470,581 -7.62 1,900,928 -23.06 -8.4
P.B.I.T. 10,769,489 10,976,409 10,616,085 7,349,367 3,077,841
Interest Expense 307,564 -68,092 -122.14 -29,564 -56.58 795,887 >999± 1,244,989 56.43
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 10,461,925 11,044,501 10,645,649 6,553,480 1,832,852

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 20,715,231 22,489,623 8.57 23,062,400 2.55 23,312,726 1.09 24,577,642 5.43 4.4
Investment in Programming 0 0 0 0 0
Total Canadian Programming 20,715,231 22,489,623 8.57 23,062,400 2.55 23,312,726 1.09 24,577,642 5.43 4.4
Canadian Programming/Revenue (%) 42.16 44.64 45.37 49.12 57.57

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 16,121,322 15,388,111 -4.55 15,896,823 3.31 16,682,022 4.94 18,239,300 9.34 3.1
Average Staff Count 193 188 -2.59 198 5.32 203 2.53 197 -2.96
Avg Remuneration ($) 83,530 81,852 -2.01 80,287 -1.91 82,177 2.35 92,585 12.67 2.6

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 11,124,476 11,329,477 1.84 11,353,301 0.21 11,353,301 0.00 11,162,022 -1.68 0.1

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 27.4 26.6 26.1 20.7 11.7
P.B.I.T. Margin 21.9 21.8 20.9 15.5 7.2
Pre-tax Margin 21.3 21.9 20.9 13.8 4.3

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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