Large Radio Markets – Radio FM – Calgary

Commercial Radio – Financial Summary 2010-2014

Table of Contents

Reporting Units ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Reporting Units 13 13   13   14   15    

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Local Time Sales 53,365,354 52,724,949 -1.20 53,408,618 1.30 53,141,975 -0.50 53,499,108 0.67 0.1
National Time Sales 18,693,968 22,913,419 22.57 24,975,779 9.00 28,005,403 12.13 26,474,771 -5.47 9.1
Network Payments 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Syndication-Production 76,103 526 -99.31 62,370 >999± 5,121 -91.79 38,313 648.15 -15.8
Government Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other 724,913 835,978 15.32 1,222,712 46.26 469,175 -61.63 623,227 32.83 -3.7
Total Revenue 72,860,338 76,474,872 4.96 79,669,479 4.18 81,621,674 2.45 80,635,419 -1.21 2.6

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 21,966,296 21,918,881 -0.22 20,594,055 -6.04 21,622,879 5.00 21,117,389 -2.34 -1.0
Technical 2,009,242 2,092,331 4.14 2,043,235 -2.35 2,056,277 0.64 2,201,379 7.06 2.3
Sales and Promotion 18,233,474 20,424,065 12.01 20,408,579 -0.08 18,209,583 -10.77 18,578,388 2.03 0.5
Administration and General 11,889,409 12,239,251 2.94 12,890,485 5.32 13,041,543 1.17 14,020,415 7.51 4.2
Total Expenses 54,098,421 56,674,528 4.76 55,936,354 -1.30 54,930,282 -1.80 55,917,571 1.80 0.8

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 18,761,917 19,800,344   23,733,125   26,691,392   24,717,848    
Depreciation 1,990,288 1,878,446   1,463,340   1,189,632   1,691,859    
P.B.I.T. 16,771,629 17,921,898   22,269,785   25,501,760   23,025,989    
Interest Expense 705,001 791,722   731,923   533,608   759,793    
Adjustments - Gain (Loss) -42,716,400 -661,133   -238,097   -7,936,072   -4,665,358    
Pre-tax Profit -26,649,772 16,469,043   21,299,765   17,032,080   17,600,838    

Programming and Production (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Program and Production Expense/Total Expenses 40.6 38.7   36.8   39.4   37.8    
Program and Production Expense/Total Revenue 30.1 28.7   25.8   26.5   26.2    

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration ($) 25,482,691 26,790,643 5.13 26,870,541 0.30 26,630,478 -0.89 26,801,903 0.64 1.3
Total Staff Count 308.0 294.7 -4.32 288.3 -2.19 299.0 3.73 328.0 9.70  
Avg Remuneration ($)  82,736 90,908 9.88 93,220 2.54 89,062 -4.46 81,708 -8.26 -0.3
Avg Remuneration excl. Benefits ($)  75,990 83,105 9.36 84,970 2.24 80,797 -4.91 75,012 -7.16 -0.3

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 25.8 25.9   29.8   32.7   30.7    
P.B.I.T. Margin 23.0 23.4   28.0   31.2   28.6    
Pre-tax Margin -36.6 21.5   26.7   20.9   21.8    
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