Major Radio Markets – Radio AM / FM – Vancouver

Commercial Radio – Financial Summary 2010-2014

Table of Contents

Reporting Units ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Reporting Units 20 20   20   20   20    

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Local Time Sales 84,283,271 84,810,293 0.63 87,288,730 2.92 86,762,377 -0.60 77,476,227 -10.70 -2.1
National Time Sales 30,152,311 32,348,762 7.28 35,248,808 8.96 34,463,065 -2.23 38,020,342 10.32 6.0
Network Payments 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Syndication-Production 344,524 66,896 -80.58 89,866 34.34 35,182 -60.85 67,486 91.82 -33.5
Government Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other 3,448,432 3,594,719 4.24 3,428,876 -4.61 2,747,071 -19.88 3,263,488 18.80 -1.4
Total Revenue 118,228,538 120,820,670 2.19 126,056,280 4.33 124,007,695 -1.63 118,827,543 -4.18 0.1

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 39,490,881 40,004,325 1.30 41,006,651 2.51 40,855,146 -0.37 41,091,915 0.58 1.0
Technical 3,146,203 3,094,318 -1.65 2,991,942 -3.31 3,166,293 5.83 3,517,350 11.09 2.8
Sales and Promotion 30,160,707 30,060,960 -0.33 28,588,283 -4.90 26,766,602 -6.37 26,825,121 0.22 -2.9
Administration and General 20,828,557 21,229,856 1.93 22,552,555 6.23 21,618,810 -4.14 22,147,890 2.45 1.6
Total Expenses 93,626,348 94,389,459 0.82 95,139,431 0.79 92,406,851 -2.87 93,582,276 1.27 0.0

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 24,602,190 26,431,211   30,916,849   31,600,844   25,245,267    
Depreciation 2,178,960 2,472,792   2,162,300   1,749,045   1,930,089    
P.B.I.T. 22,423,230 23,958,419   28,754,549   29,851,799   23,315,178    
Interest Expense 162,326 362,536   601,471   216,475   656,657    
Adjustments - Gain (Loss) -21,767,226 3,383,572   1,512,033   -10,291,691   5,832,843    
Pre-tax Profit 493,678 26,979,455   29,665,111   19,343,633   28,491,364    

Programming and Production (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Program and Production Expense/Total Expenses 42.2 42.4   43.1   44.2   43.9    
Program and Production Expense/Total Revenue 33.4 33.1   32.5   32.9   34.6    

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration ($) 46,514,945 46,405,608 -0.24 48,331,150 4.15 48,076,060 -0.53 43,186,659 -10.17 -1.8
Total Staff Count 619.7 599.6 -3.24 572.5 -4.53 588.5 2.81 545.1 -7.38  
Avg Remuneration ($)  75,056 77,389 3.11 84,424 9.09 81,687 -3.24 79,226 -3.01 1.4
Avg Remuneration excl. Benefits ($)  69,029 70,431 2.03 76,897 9.18 74,365 -3.29 72,162 -2.96 1.1

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 20.8 21.9   24.5   25.5   21.2    
P.B.I.T. Margin 19.0 19.8   22.8   24.1   19.6    
Pre-tax Margin 0.4 22.3   23.5   15.6   24.0    
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