Pay and Specialty - Fairchild TV

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
314600560 Fairchild TV Fairchild Television Ltd. Fairchild Property Group Ltd. Specialty (category A service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 11,250,287 11,201,075 -0.44 10,934,901 -2.38 10,574,431 -3.30 10,091,725 -4.56 -2.7
DTH revenue 3,491,139 3,299,153 -5.50 2,959,812 -10.29 2,569,445 -13.19 2,436,613 -5.17 -8.6
Local advertising revenue 8,132,595 8,251,555 1.46 7,291,779 -11.63 6,806,713 -6.65 6,670,968 -1.99 -4.8
National advertising revenue 4,452,062 3,900,030 -12.40 3,208,949 -17.72 2,387,660 -25.59 2,348,918 -1.62 -14.8
Other revenue 1,113,531 1,192,678 7.11 834,130 -30.06 434,058 -47.96 755,755 74.11 -9.2
Total Revenue 28,439,614 27,844,491 -2.09 25,229,571 -9.39 22,772,307 -9.74 22,303,979 -2.06 -5.9

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 13,198,783 13,606,082 3.09 13,067,949 -3.96 13,159,551 0.70 13,280,872 0.92 0.2
Technical 2,559,308 2,138,852 -16.43 2,299,435 7.51 2,114,460 -8.04 1,823,531 -13.76 -8.1
Sales and Promotion 2,835,200 2,839,845 0.16 2,614,263 -7.94 2,391,546 -8.52 2,354,498 -1.55 -4.5
Administration and General 4,332,293 4,306,520 -0.59 3,512,809 -18.43 2,987,319 -14.96 3,389,738 13.47 -6.0
Total Expenses 22,925,584 22,891,299 -0.15 21,494,456 -6.10 20,652,876 -3.92 20,848,639 0.95 -2.4

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 5,514,030 4,953,192 3,735,115 2,119,431 1,455,340
Depreciation 378,301 305,937 -19.13 386,177 26.23 463,586 20.04 517,685 11.67 8.2
P.B.I.T. 5,135,729 4,647,255 3,348,938 1,655,845 937,655
Interest Expense 74,404 57,600 -22.58 40,046 -30.48 15,675 -60.86 984 -93.72
Adjustments - Gain (Loss) 0 0 0 0 0
Pre-tax Profit 5,061,325 4,589,655 3,308,892 1,640,170 936,671

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 257,018 260,445 1.33 252,529 -3.04 387,190 53.32 300,217 -22.46 4.0
Script & concept 0 0 0 0 0
Filler Programming + Program Production 8,079,200 8,506,721 5.29 8,540,579 0.40 8,394,667 -1.71 8,312,795 -0.98 0.7
Investment in Programming 0 0 0 0 0
Total Canadian Programming 8,336,218 8,767,166 5.17 8,793,108 0.30 8,781,857 -0.13 8,613,012 -1.92 0.8
Canadian Programming/Revenue (%) 29.31 31.49 34.85 38.56 38.62

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 9,873,288 10,483,017 6.18 10,510,771 0.26 9,091,554 -13.50 9,663,746 6.29 -0.5
Average Staff Count 337 335 -0.59 343 2.39 325 -5.25 313 -3.69
Avg Remuneration ($) 29,298 31,293 6.81 30,644 -2.07 27,974 -8.71 30,875 10.37 1.3

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 366,025 351,378 -4.00 333,173 -5.18 318,368 -4.44 294,573 -7.47 -5.3

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 19.4 17.8 14.8 9.3 6.5
P.B.I.T. Margin 18.1 16.7 13.3 7.3 4.2
Pre-tax Margin 17.8 16.5 13.1 7.2 4.2

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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