Large Radio Markets – Radio FM – Winnipeg

Commercial Radio – Financial Summary 2010-2014

Table of Contents

Reporting Units ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Reporting Units 10 11   12   12   12    

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Local Time Sales 23,177,048 22,909,121 -1.16 22,860,172 -0.21 21,925,398 -4.09 21,685,822 -1.09 -1.7
National Time Sales 5,733,419 6,457,159 12.62 6,567,357 1.71 7,561,604 15.14 7,041,293 -6.88 5.3
Network Payments 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Syndication-Production 10,300 7,300 -29.13 26,723 266.07 0 -100.00 27,870 n/a 28.3
Government Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other 464,171 570,936 23.00 567,855 -0.54 191,620 -66.26 311,885 62.76 -9.5
Total Revenue 29,384,938 29,944,516 1.90 30,022,107 0.26 29,678,622 -1.14 29,066,870 -2.06 -0.3

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 8,295,792 8,064,821 -2.78 7,969,453 -1.18 8,675,055 8.85 9,265,275 6.80 2.8
Technical 831,084 855,876 2.98 981,576 14.69 976,094 -0.56 1,072,985 9.93 6.6
Sales and Promotion 7,832,009 7,845,788 0.18 8,148,743 3.86 7,607,877 -6.64 6,750,195 -11.27 -3.7
Administration and General 5,555,673 5,692,056 2.45 5,642,208 -0.88 6,007,687 6.48 6,094,426 1.44 2.3
Total Expenses 22,514,558 22,458,541 -0.25 22,741,980 1.26 23,266,713 2.31 23,182,881 -0.36 0.7

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 6,870,380 7,485,975   7,280,127   6,411,909   5,883,989    
Depreciation 830,497 878,918   757,925   607,547   808,070    
P.B.I.T. 6,039,883 6,607,057   6,522,202   5,804,362   5,075,919    
Interest Expense 49,612 62,268   -3,791   19,415   139,764    
Adjustments - Gain (Loss) -20,190,463 599,013   1,904,896   -1,541,708   2,079,390    
Pre-tax Profit -14,200,192 7,143,802   8,430,889   4,243,239   7,015,545    

Programming and Production (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Program and Production Expense/Total Expenses 36.8 35.9   35.0   37.3   40.0    
Program and Production Expense/Total Revenue 28.2 26.9   26.5   29.2   31.9    

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration ($) 11,979,338 11,989,763 0.09 12,380,561 3.26 12,508,477 1.03 11,935,917 -4.58 -0.1
Total Staff Count 164.3 154.9 -5.70 183.7 18.58 178.0 -3.11 182.8 2.67  
Avg Remuneration ($)  72,916 77,393 6.14 67,392 -12.92 70,272 4.27 65,313 -7.06 -2.7
Avg Remuneration excl. Benefits ($)  64,649 68,681 6.24 59,784 -12.95 62,226 4.09 59,572 -4.27 -2.0

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 23.4 25.0   24.2   21.6   20.2    
P.B.I.T. Margin 20.6 22.1   21.7   19.6   17.5    
Pre-tax Margin -48.3 23.9   28.1   14.3   24.1    
Date modified: