Small Radio Markets – Radio AM / FM – Total

Commercial Radio – Financial Summary 2010-2014

Table of Contents

Reporting Units ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Reporting Units 454 464   469   474   482    

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Local Time Sales 420,386,012 432,634,312 2.91 435,805,946 0.73 441,159,492 1.23 442,896,424 0.39 1.3
National Time Sales 120,528,097 120,901,015 0.31 116,286,314 -3.82 127,787,560 9.89 128,984,304 0.94 1.7
Network Payments 0 0 n/a 0 n/a 678,179 n/a 200 -99.97 n/a
Syndication-Production 1,583,439 1,820,803 14.99 2,061,904 13.24 1,845,884 -10.48 3,292,341 78.36 20.1
Government Grants 79,641 108,256 35.93 85,519 -21.00 131,712 54.01 73,581 -44.13 -2.0
Other 9,979,616 10,618,112 6.40 10,586,894 -0.29 7,465,356 -29.48 8,204,173 9.90 -4.8
Total Revenue 552,556,805 566,082,498 2.45 564,826,577 -0.22 579,068,183 2.52 583,451,023 0.76 1.4

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 158,827,080 162,370,273 2.23 163,860,959 0.92 166,548,761 1.64 170,026,251 2.09 1.7
Technical 23,727,066 24,333,282 2.55 25,495,486 4.78 25,636,218 0.55 25,565,090 -0.28 1.9
Sales and Promotion 143,347,963 148,867,031 3.85 148,371,130 -0.33 147,775,520 -0.40 149,201,390 0.96 1.0
Administration and General 135,457,112 139,901,607 3.28 140,995,582 0.78 142,146,978 0.82 143,783,164 1.15 1.5
Total Expenses 461,359,221 475,472,193 3.06 478,723,157 0.68 482,107,477 0.71 488,575,895 1.34 1.4

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 91,197,584 90,610,305   86,103,420   96,960,706   94,875,128    
Depreciation 20,678,134 21,253,874   20,537,328   20,141,322   21,608,604    
P.B.I.T. 70,519,450 69,356,431   65,566,092   76,819,384   73,266,524    
Interest Expense 5,882,243 5,909,523   5,456,353   5,763,464   6,608,954    
Adjustments - Gain (Loss) -57,985,827 15,167,987   11,177,763   -6,518,361   -21,895,781    
Pre-tax Profit 6,651,380 78,614,895   71,287,502   64,537,559   44,761,789    

Programming and Production (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Program and Production Expense/Total Expenses 34.4 34.1   34.2   34.5   34.8    
Program and Production Expense/Total Revenue 28.7 28.7   29.0   28.8   29.1    

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration ($) 260,136,120 268,477,186 3.21 271,058,909 0.96 270,924,389 -0.05 274,298,660 1.25 1.3
Total Staff Count 5,039.1 5,215.1 3.49 5,021.0 -3.72 5,114.3 1.86 5,007.1 -2.09  
Avg Remuneration ($)  51,623 51,481 -0.28 53,985 4.86 52,974 -1.87 54,782 3.41 1.5
Avg Remuneration excl. Benefits ($)  46,255 45,941 -0.68 43,737 -4.80 47,044 7.56 48,963 4.08 1.4

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 16.5 16.0   15.2   16.7   16.3    
P.B.I.T. Margin 12.8 12.3   11.6   13.3   12.6    
Pre-tax Margin 1.2 13.9   12.6   11.1   7.7    
Date modified: