Pay and Specialty - Cogeco Cable Holdings Inc., Montréal

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
205424112 Cogeco Cable Holdings Inc., Montréal Cogeco Cable Holdings Inc. Gestion Audem inc. Video-on-Demand 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 19,331,273 21,423,428 10.82 19,697,470 -8.06 17,646,806 -10.41 15,073,623 -14.58 -6.0
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 19,331,273 21,423,428 10.82 19,697,470 -8.06 17,646,806 -10.41 15,073,623 -14.58 -6.0

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 0 0 0 0 0
Technical 0 0 0 0 0
Sales and Promotion 0 0 0 0 0
Administration and General 11,462,022 12,955,277 13.03 11,824,302 -8.73 12,923,432 9.30 12,294,261 -4.87 1.8
Total Expenses 11,462,022 12,955,277 13.03 11,824,302 -8.73 12,923,432 9.30 12,294,261 -4.87 1.8

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 7,869,251 8,468,151 7,873,168 4,723,374 2,779,362
Depreciation 0 0 0 0 0
P.B.I.T. 7,869,251 8,468,151 7,873,168 4,723,374 2,779,362
Interest Expense 0 0 0 0 0
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 7,869,251 8,468,151 7,873,168 4,723,374 2,779,362

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 ($) 0 0 0 0 0
Average Staff Count 0 0 0 0 0
Avg Remuneration ($)

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 40.7 39.5 40.0 26.8 18.4
P.B.I.T. Margin 40.7 39.5 40.0 26.8 18.4
Pre-tax Margin 40.7 39.5 40.0 26.8 18.4

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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