Pay and Specialty - Zeste (formerly Cuisine)

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
535426961 Zeste (formerly Cuisine) Zeste Diffusion inc. Groupe Serdy inc. Specialty (category B service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue
DTH revenue
Local advertising revenue
National advertising revenue
Other revenue
Total Revenue 3,009,810 3,923,720 30.36 4,756,373 21.22 5,452,297 14.63 6,344,885 16.37 20.5

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 3,597,949 3,586,497 -0.32 2,998,067 -16.41 3,189,737 6.39 3,966,574 24.35 2.5
Technical
Sales and Promotion
Administration and General
Total Expenses

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income
Depreciation
P.B.I.T.
Interest Expense
Adjustments - Gain (Loss)
Pre-tax Profit

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 395,438 370,432 -6.32 342,513 -7.54 446,603 30.39 481,161 7.74 5.0
Script & concept 0 0 0 805 800 -0.62
Filler Programming + Program Production 2,068,699 2,202,016 6.44 1,823,217 -17.20 1,942,886 6.56 2,487,335 28.02 4.7
Investment in Programming 0 0 0 0 0
Total Canadian Programming 2,464,137 2,572,448 4.40 2,165,730 -15.81 2,390,294 10.37 2,969,296 24.22 4.8
Canadian Programming/Revenue (%) 81.87 65.56 45.53 43.84 46.80

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($)
Average Staff Count
Avg Remuneration ($)

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
P.B.I.T. Margin
Pre-tax Margin

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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