Radio FM - Canadian Broadcasting Corporation

Commercial Radio - Financial Summary 2011-2015

Table of Contents

Reporting Units
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Reporting Units 58 58   64   66   55    

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Local Time Sales 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National Time Sales 0 0 n/a 0 n/a 1,073,924 n/a 1,365,871 27.19 n/a
Syndication-Production 834,700 904,017 8.30 1,087,394 20.28 1,327,821 22.11 1,816,056 36.77 21.5
Parliamentary Appropriation 248,815,318 244,856,203 -1.59 238,261,589 -2.69 225,320,704 -5.43 218,931,361 -2.84 -3.2
Other Revenue 7,115,602 6,931,968 -2.58 7,015,792 1.21 6,907,371 -1.55 5,442,555 -21.21 -6.5
Total Revenue 256,765,620 252,692,188 -1.59 246,364,775 -2.50 234,629,820 -4.76 227,555,843 -3.01 -3.0

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming 184,622,348 178,418,394 -3.36 176,294,729 -1.19 170,917,887 -3.05 162,722,538 -4.79 -3.1
Technical 18,654,691 19,309,254 3.51 16,958,057 -12.18 16,702,509 -1.51 15,486,400 -7.28 -4.6
Sales and Promotion 7,495,823 8,454,821 12.79 8,903,754 5.31 8,886,847 -0.19 9,496,703 6.86 6.1
Administration and General 29,100,562 27,795,461 -4.48 26,863,834 -3.35 27,642,020 2.90 27,799,366 0.57 -1.1
Total Expenses 239,873,424 233,977,930 -2.46 229,020,374 -2.12 224,149,263 -2.13 215,505,007 -3.86 -2.6

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 16,892,196 18,714,258   17,344,401   10,480,557   12,050,836    
Depreciation 21,443,402 25,735,915 20.02 20,644,124 -19.78 19,709,435 -4.53 18,463,391 -6.32 -3.7
Interest Expense 3,835,578 3,521,927   3,872,527   3,623,473   3,445,589    
Adjustments Gain(Loss) 5,794,740 7,547,109   12,277,448   746,489   -3,095,488    
Surplus (Deficit) -2,592,044 -2,996,475   5,105,198   -12,105,862   -12,953,632    

Programming Expense (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming Expense / Expense Total 77.0 76.3   77.0   76.3   75.5    
Programming Expense / Revenue Total 71.9 70.6   71.6   72.8   71.5    

Staff ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 174,100,527 170,876,508 -1.85 171,477,360 0.35 168,598,443 -1.68 159,874,949 -5.17 -2.1
Avg Staff Count 1,845.7 1,743.7 -5.53 1,734.7 -0.51 1,655.4 -4.57 1,539.4 -7.01  
Avg Remuneration ($) 94,329 97,998 3.89 98,851 0.87 101,846 3.03 103,857 1.97 2.4
Remuneration/Expense Total (%) 72.6 73.0   74.9   75.2   74.2 1.89  

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 6.6 7.4   7.0   4.5   5.3    
Surplus (Deficit) Margin -1.0 -1.2   2.1   -5.2   -5.7    

CAGR = Compound Annual Growth Rate

Var = Variation

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