Large Radio Markets – Radio FM – la ville de Québec

Commercial Radio – Financial Summary 2010-2014

Table of Contents

Reporting Units ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Reporting Units 9 9   9   9   9    

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Local Time Sales 28,280,345 29,628,483 4.77 30,619,271 3.34 30,959,038 1.11 32,624,041 5.38 3.6
National Time Sales 13,238,004 12,868,066 -2.79 13,367,562 3.88 13,768,830 3.00 13,397,032 -2.70 0.3
Network Payments 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Syndication-Production 855,415 1,490,761 74.27 189,687 -87.28 487,591 157.05 612,025 25.52 -8.0
Government Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other 1,133,866 757,910 -33.16 526,872 -30.48 96,834 -81.62 37,716 -61.05 -57.3
Total Revenue 43,507,630 44,745,220 2.84 44,703,392 -0.09 45,312,293 1.36 46,670,814 3.00 1.8

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 13,449,929 14,540,782 8.11 15,612,902 7.37 15,164,128 -2.87 15,438,106 1.81 3.5
Technical 1,238,926 1,641,116 32.46 1,603,693 -2.28 1,309,926 -18.32 1,315,836 0.45 1.5
Sales and Promotion 11,526,612 11,260,356 -2.31 11,211,394 -0.43 12,418,653 10.77 12,191,599 -1.83 1.4
Administration and General 7,091,319 7,933,721 11.88 7,660,024 -3.45 7,579,398 -1.05 7,615,059 0.47 1.8
Total Expenses 33,306,786 35,375,975 6.21 36,088,013 2.01 36,472,105 1.06 36,560,600 0.24 2.4

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 10,200,844 9,369,245   8,615,379   8,840,188   10,110,214    
Depreciation 1,343,947 1,331,849   1,427,201   1,643,531   1,308,230    
P.B.I.T. 8,856,897 8,037,396   7,188,178   7,196,657   8,801,984    
Interest Expense 882,943 -71,265   126,241   224,837   295,097    
Adjustments - Gain (Loss) 7,339,793 5,054,274   3,552,959   3,544,972   125,971    
Pre-tax Profit 15,313,747 13,162,935   10,614,896   10,516,792   8,632,858    

Programming and Production (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Program and Production Expense/Total Expenses 40.4 41.1   43.3   41.6   42.2    
Program and Production Expense/Total Revenue 30.9 32.5   34.9   33.5   33.1    

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration ($) 18,909,885 20,849,775 10.26 20,655,754 -0.93 20,929,285 1.32 21,343,337 1.98 3.1
Total Staff Count 223.2 267.5 19.85 241.2 -9.82 245.2 1.65 242.5 -1.11  
Avg Remuneration ($)  84,726 77,946 -8.00 85,630 9.86 85,359 -0.32 88,025 3.12 1.0
Avg Remuneration excl. Benefits ($)  74,428 68,593 -7.84 75,105 9.49 73,206 -2.53 78,369 7.05 1.3

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 23.4 20.9   19.3   19.5   21.7    
P.B.I.T. Margin 20.4 18.0   16.1   15.9   18.9    
Pre-tax Margin 35.2 29.4   23.7   23.2   18.5    
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