Pay and Specialty - Évasion (formerly Canal Évasion)

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
205421548 Évasion (formerly Canal Évasion) Canal Évasion inc. Groupe Serdy inc. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 6,618,989 6,727,436 1.64 6,475,004 -3.75 6,740,789 4.10 6,015,801 -10.76 -2.4
DTH revenue 2,061,083 2,063,547 0.12 2,072,477 0.43 2,105,845 1.61 2,437,249 15.74 4.3
Local advertising revenue 0 0 0 0 0
National advertising revenue 3,891,540 3,864,539 -0.69 3,668,311 -5.08 2,552,099 -30.43 2,727,428 6.87 -8.5
Other revenue 35 -158 -551.43 -500 216.46 42 -108.40 75,391 >999± 581.3
Total Revenue 12,571,647 12,655,364 0.67 12,215,292 -3.48 11,398,775 -6.68 11,255,869 -1.25 -2.7

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 7,193,835 7,572,670 5.27 7,138,997 -5.73 7,218,602 1.12 6,942,022 -3.83 -0.9
Technical 742,629 813,561 9.55 715,697 -12.03 679,621 -5.04 1,146,309 68.67 11.5
Sales and Promotion 1,637,115 1,552,975 -5.14 1,482,194 -4.56 1,259,787 -15.01 1,124,333 -10.75 -9.0
Administration and General 1,845,943 1,751,461 -5.12 1,751,087 -0.02 1,461,552 -16.53 1,291,621 -11.63 -8.5
Total Expenses 11,419,522 11,690,667 2.37 11,087,975 -5.16 10,619,562 -4.22 10,504,285 -1.09 -2.1

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 1,152,125 964,697 1,127,317 779,213 751,584
Depreciation 182,091 127,990 -29.71 77,021 -39.82 34,917 -54.67 16,897 -51.61 -44.8
P.B.I.T. 970,034 836,707 1,050,296 744,296 734,687
Interest Expense 2,569 7,233 181.55 4,009 -44.57 7,779 94.04 6,764 -13.05
Adjustments - Gain (Loss) 70,888 98,335 38.72 178,242 81.26 202,509 13.61 193,646 -4.38
Pre-tax Profit 1,038,353 927,809 1,224,529 939,026 921,569

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 4,118,786 4,048,050 -1.72 3,997,693 -1.24 4,625,795 15.71 4,447,679 -3.85 1.9
Script & concept 0 140,000 29,648 -78.82 1,002 -96.62 40 -96.01
Filler Programming + Program Production 1,328,888 1,626,465 22.39 1,593,305 -2.04 1,165,450 -26.85 873,728 -25.03 -10.0
Investment in Programming 0 0 0 0 0
Total Canadian Programming 5,447,674 5,814,515 6.73 5,620,646 -3.33 5,792,247 3.05 5,321,447 -8.13 -0.6
Canadian Programming/Revenue (%) 43.33 45.95 46.01 50.81 47.28

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 1,598,790 1,473,160 -7.86 1,454,275 -1.28 1,232,909 -15.22 1,211,729 -1.72 -6.7
Average Staff Count 16.5 16.17 -2.00 15.75 -2.60 13.13 -16.63 12.03 -8.38
Avg Remuneration ($) 96,896 91,105 -5.98 92,335 1.35 93,900 1.70 100,726 7.27 1.0

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 2,072,442 2,050,587 -1.05 2,031,946 -0.91 2,013,886 -0.89 1,911,663 -5.08 -2.0

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 9.2 7.6 9.2 6.8 6.7
P.B.I.T. Margin 7.7 6.6 8.6 6.5 6.5
Pre-tax Margin 8.3 7.3 10.0 8.2 8.2

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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