Large Radio Markets – Radio AM / FM – Edmonton

Commercial Radio – Financial Summary 2010-2014

Table of Contents

Reporting Units ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Reporting Units 18 19   19   19   19    

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Local Time Sales 61,504,692 62,600,302 1.78 62,842,671 0.39 63,121,264 0.44 62,907,330 -0.34 0.6
National Time Sales 18,702,609 23,595,917 26.16 26,072,807 10.50 29,685,274 13.86 28,761,574 -3.11 11.4
Network Payments 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Syndication-Production 37,217 391,866 952.92 366,826 -6.39 19,871 -94.58 112,668 467.00 31.9
Government Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other 1,432,100 1,457,382 1.77 1,755,035 20.42 1,252,385 -28.64 1,323,912 5.71 -1.9
Total Revenue 81,676,618 88,045,467 7.80 91,037,339 3.40 94,078,794 3.34 93,105,484 -1.03 3.3

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 24,614,287 25,894,755 5.20 27,700,602 6.97 27,532,395 -0.61 28,073,070 1.96 3.3
Technical 2,239,432 2,816,225 25.76 2,903,276 3.09 2,841,608 -2.12 2,875,063 1.18 6.5
Sales and Promotion 22,415,205 25,649,063 14.43 24,384,189 -4.93 23,211,598 -4.81 23,675,104 2.00 1.4
Administration and General 14,732,464 15,614,568 5.99 13,850,846 -11.30 14,236,811 2.79 14,868,948 4.44 0.2
Total Expenses 64,001,388 69,974,611 9.33 68,838,913 -1.62 67,822,412 -1.48 69,492,185 2.46 2.1

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 17,675,230 18,070,856   22,198,426   26,256,382   23,613,299    
Depreciation 3,110,008 2,507,892   2,514,529   2,143,666   2,695,859    
P.B.I.T. 14,565,222 15,562,964   19,683,897   24,112,716   20,917,440    
Interest Expense 670,896 1,192,974   1,060,240   1,010,268   1,126,805    
Adjustments - Gain (Loss) -30,865,654 3,255,108   7,002,226   -1,093,516   4,766,271    
Pre-tax Profit -16,971,328 17,625,098   25,625,883   22,008,932   24,556,906    

Programming and Production (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Program and Production Expense/Total Expenses 38.5 37.0   40.2   40.6   40.4    
Program and Production Expense/Total Revenue 30.1 29.4   30.4   29.3   30.2    

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration ($) 31,783,555 34,473,517 8.46 35,132,332 1.91 34,714,208 -1.19 35,146,438 1.25 2.6
Total Staff Count 411.4 446.1 8.42 414.1 -7.17 419.3 1.26 402.1 -4.11  
Avg Remuneration ($)  77,250 77,283 0.04 84,840 9.78 82,785 -2.42 87,409 5.59 3.1
Avg Remuneration excl. Benefits ($)  70,805 68,495 -3.26 76,946 12.34 74,639 -3.00 79,216 6.13 2.9

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 21.6 20.5   24.4   27.9   25.4    
P.B.I.T. Margin 17.8 17.7   21.6   25.6   22.5    
Pre-tax Margin -20.8 20.0   28.1   23.4   26.4    
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