Small Radio Markets – Radio AM / FM – Newfoundland and Prince Edward Island

Commercial Radio – Financial Summary 2010-2014

Table of Contents

Reporting Units ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Reporting Units 22 22   22   22   22    

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Local Time Sales 24,767,308 25,877,476 4.48 25,630,887 -0.95 25,402,321 -0.89 25,966,262 2.22 1.2
National Time Sales 4,204,253 4,547,125 8.16 5,052,987 11.12 5,467,607 8.21 5,474,384 0.12 6.8
Network Payments 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Syndication-Production 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Government Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Revenue 28,971,561 30,424,601 5.02 30,683,874 0.85 30,869,928 0.61 31,440,646 1.85 2.1

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 6,918,641 7,097,931 2.59 7,444,358 4.88 7,698,562 3.41 7,693,242 -0.07 2.7
Technical 1,480,727 1,539,714 3.98 1,630,162 5.87 1,542,531 -5.38 1,585,885 2.81 1.7
Sales and Promotion 5,940,287 6,154,607 3.61 6,522,157 5.97 6,118,288 -6.19 6,156,667 0.63 0.9
Administration and General 8,704,334 8,745,051 0.47 9,308,484 6.44 9,104,834 -2.19 9,121,728 0.19 1.2
Total Expenses 23,043,989 23,537,303 2.14 24,905,161 5.81 24,464,215 -1.77 24,557,522 0.38 1.6

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 5,927,572 6,887,298   5,778,713   6,405,713   6,883,124    
Depreciation 739,175 1,046,656   860,423   909,427   930,459    
P.B.I.T. 5,188,397 5,840,642   4,918,290   5,496,286   5,952,665    
Interest Expense 781,563 1,012,901   765,438   550,364   936,300    
Adjustments - Gain (Loss) 564,780 630,614   847,689   963,402   1,077,896    
Pre-tax Profit 4,971,614 5,458,355   5,000,541   5,909,324   6,094,261    

Programming and Production (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Program and Production Expense/Total Expenses 30.0 30.2   29.9   31.5   31.3    
Program and Production Expense/Total Revenue 23.9 23.3   24.3   24.9   24.5    

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration ($) 12,832,130 13,230,693 3.11 13,805,079 4.34 13,770,124 -0.25 14,086,749 2.30 2.4
Total Staff Count 239.1 252.0 5.42 235.5 -6.55 232.8 -1.17 255.3 9.67  
Avg Remuneration ($)  53,680 52,503 -2.19 58,620 11.65 59,163 0.93 55,188 -6.72 0.7
Avg Remuneration excl. Benefits ($)  47,857 46,524 -2.79 51,736 11.20 52,029 0.57 48,829 -6.15 0.5

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 20.5 22.6   18.8   20.8   21.9    
P.B.I.T. Margin 17.9 19.2   16.0   17.8   18.9    
Pre-tax Margin 17.2 17.9   16.3   19.1   19.4    
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