Small Radio Markets – Radio AM / FM – Nova Scotia

Commercial Radio – Financial Summary 2010-2014

Table of Contents

Reporting Units ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Reporting Units 19 20   21   21   22    

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Local Time Sales 16,353,220 16,375,641 0.14 16,298,493 -0.47 15,203,969 -6.72 14,323,746 -5.79 -3.3
National Time Sales 3,659,146 3,296,024 -9.92 3,868,830 17.38 4,379,552 13.20 4,493,420 2.60 5.3
Network Payments 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Syndication-Production 0 0 n/a 26,647 n/a 1,494 -94.39 10,763 620.41 n/a
Government Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other 43,424 139,559 221.39 132,284 -5.21 100,203 -24.25 67,110 -33.03 11.5
Total Revenue 20,055,790 19,811,224 -1.22 20,326,254 2.60 19,685,218 -3.15 18,895,039 -4.01 -1.5

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 5,346,664 5,471,406 2.33 5,401,011 -1.29 5,333,388 -1.25 5,170,391 -3.06 -0.8
Technical 679,218 753,560 10.95 784,766 4.14 762,481 -2.84 762,538 0.01 2.9
Sales and Promotion 3,962,889 3,757,404 -5.19 3,940,795 4.88 3,790,985 -3.80 3,774,460 -0.44 -1.2
Administration and General 5,795,942 5,701,556 -1.63 6,098,308 6.96 5,760,185 -5.54 5,465,479 -5.12 -1.5
Total Expenses 15,784,713 15,683,926 -0.64 16,224,880 3.45 15,647,039 -3.56 15,172,868 -3.03 -1.0

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 4,271,077 4,127,298   4,101,374   4,038,179   3,722,171    
Depreciation 958,462 1,024,385   964,905   913,698   1,043,618    
P.B.I.T. 3,312,615 3,102,913   3,136,469   3,124,481   2,678,553    
Interest Expense 223,139 285,884   229,508   215,674   317,544    
Adjustments - Gain (Loss) -5,156,642 -113,258   220,471   -913,597   -22,134    
Pre-tax Profit -2,067,166 2,703,771   3,127,432   1,995,210   2,338,875    

Programming and Production (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Program and Production Expense/Total Expenses 33.9 34.9   33.3   34.1   34.1    
Program and Production Expense/Total Revenue 26.7 27.6   26.6   27.1   27.4    

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration ($) 8,625,123 8,684,908 0.69 9,102,948 4.81 9,097,043 -0.06 8,601,420 -5.45 -0.1
Total Staff Count 212.0 210.1 -0.91 206.3 -1.80 198.4 -3.83 189.4 -4.53  
Avg Remuneration ($)  40,688 41,347 1.62 44,131 6.73 45,859 3.92 45,419 -0.96 2.8
Avg Remuneration excl. Benefits ($)  37,107 37,443 0.91 39,722 6.08 41,453 4.36 40,620 -2.01 2.3

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 21.3 20.8   20.2   20.5   19.7    
P.B.I.T. Margin 16.5 15.7   15.4   15.9   14.2    
Pre-tax Margin -10.3 13.6   15.4   10.1   12.4    
Date modified: