Small Radio Markets – Radio AM / FM – Saskatchewan

Commercial Radio – Financial Summary 2010-2014

Table of Contents

Reporting Units ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Reporting Units 41 42   43   45   45    

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Local Time Sales 67,693,272 71,308,258 5.34 73,162,216 2.60 75,614,994 3.35 74,239,757 -1.82 2.3
National Time Sales 15,972,787 15,434,708 -3.37 16,018,315 3.78 16,828,949 5.06 16,069,915 -4.51 0.2
Network Payments 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Syndication-Production -56,028 -80,902 44.40 -49,346 -39.01 6,084 -112.33 40,788 570.41 n/a
Government Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other 1,401,678 1,400,847 -0.06 1,269,759 -9.36 1,365,594 7.55 1,331,597 -2.49 -1.3
Total Revenue 85,011,709 88,062,911 3.59 90,400,944 2.65 93,815,621 3.78 91,682,057 -2.27 1.9

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 27,429,647 28,561,491 4.13 29,197,757 2.23 30,210,379 3.47 31,016,407 2.67 3.1
Technical 2,536,936 2,617,239 3.17 3,082,281 17.77 3,264,502 5.91 3,267,011 0.08 6.5
Sales and Promotion 25,096,612 26,330,958 4.92 26,677,686 1.32 27,481,937 3.01 26,942,908 -1.96 1.8
Administration and General 17,192,254 17,405,588 1.24 17,648,824 1.40 18,268,685 3.51 18,615,326 1.90 2.0
Total Expenses 72,255,449 74,915,276 3.68 76,606,548 2.26 79,225,503 3.42 79,841,652 0.78 2.5

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 12,756,260 13,147,635   13,794,396   14,590,118   11,840,405    
Depreciation 3,269,569 3,732,097   3,573,228   3,609,816   3,592,444    
P.B.I.T. 9,486,691 9,415,538   10,221,168   10,980,302   8,247,961    
Interest Expense 172,687 417,398   388,037   516,442   213,525    
Adjustments - Gain (Loss) -4,055,170 -126,157   222,016   -2,535,508   110,729    
Pre-tax Profit 5,258,834 8,871,983   10,055,147   7,928,352   8,145,165    

Programming and Production (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Program and Production Expense/Total Expenses 38.0 38.1   38.1   38.1   38.8    
Program and Production Expense/Total Revenue 32.3 32.4   32.3   32.2   33.8    

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration ($) 35,741,851 36,972,617 3.44 38,896,500 5.20 40,829,758 4.97 40,787,413 -0.10 3.4
Total Staff Count 647.8 649.2 0.21 647.8 -0.22 698.5 7.83 674.2 -3.49  
Avg Remuneration ($)  55,174 56,952 3.22 60,045 5.43 58,450 -2.66 60,499 3.51 2.3
Avg Remuneration excl. Benefits ($)  50,824 52,698 3.69 55,141 4.64 53,628 -2.74 54,227 1.12 1.6

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 15.0 14.9   15.3   15.6   12.9    
P.B.I.T. Margin 11.2 10.7   11.3   11.7   9.0    
Pre-tax Margin 6.2 10.1   11.1   8.5   8.9    
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