Designated Markets - Radio AM / FM - Peterborough

Commercial Radio - Financial Summary 2011-2015

Table of Contents

Reporting Units
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Reporting Units 6 6   6   6   6    

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Local Time Sales 5,420,502 6,127,725 13.05 5,806,583 -5.24 5,922,149 1.99 5,667,360 -4.30 1.1
National Time Sales 1,508,216 1,272,857 -15.61 1,280,380 0.59 1,521,352 18.82 1,909,323 25.50 6.1
Syndication-Production 0 0 n/a 0 n/a 0 n/a 1,737 n/a n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 292,798 308,494 5.36 303,114 -1.74 309,369 2.06 291,617 -5.74 -0.1
Total Revenue 7,221,516 7,709,076 6.75 7,390,077 -4.14 7,752,870 4.91 7,870,037 1.51 2.2

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming 2,160,445 2,273,561 5.24 2,229,328 -1.95 2,521,126 13.09 2,453,017 -2.70 3.2
Technical 213,236 148,746 -30.24 232,483 56.30 216,774 -6.76 211,352 -2.50 -0.2
Sales and Promotion 2,643,828 2,867,823 8.47 2,724,885 -4.98 2,930,100 7.53 2,832,217 -3.34 1.7
Administration and General 1,351,436 1,336,821 -1.08 1,406,302 5.20 1,494,392 6.26 1,613,995 8.00 4.5
Total Expenses 6,368,945 6,626,951 4.05 6,592,998 -0.51 7,162,392 8.64 7,110,581 -0.72 2.8

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 852,571 1,082,125   797,079   590,478   759,456    
Depreciation 298,206 344,093 15.39 249,878 -27.38 289,757 15.96 293,794 1.39 -0.4
P.B.I.T. 554,365 738,032   547,201   300,721   465,662    
Interest Expense 22,557 31,350   28,800   54,265   42,611    
Adjustments Gain(Loss) -56,246 -469,918   -1,697,960   42,178   -213,300    
Pre-tax Profit 475,562 236,764   -1,179,559   288,634   209,751    

Programming Expense (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming Expense / Expense Total 33.9 34.3   33.8   35.2   34.5    
Programming Expense / Revenue Total 29.9 29.5   30.2   32.5   31.2    

Staff ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 3,328,943 3,482,564 4.61 3,355,254 -3.66 3,822,979 13.94 3,659,655 -4.27 2.4
Avg Staff Count 61.4 59.9 -2.48 59.1 -1.32 63.6 7.69 56.1 -11.73  
Avg Remuneration ($) 54,244 58,188 7.27 56,811 -2.37 60,110 5.81 65,188 8.45 4.7
Avg Remuneration excl. Benefits ($) 47,179 51,106 8.33 49,423 -3.29 52,621 6.47 56,670 7.69 4.7

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 11.8 14.0   10.8   7.6   9.6    
P.B.I.T. Margin 7.7 9.6   7.4   3.9   5.9    
Pre-tax Margin 6.6 3.1   -16.0   3.7   2.7    

CAGR = Compound Annual Growth Rate

P.B.I.T. = Profit Before Interest and Tax

Var = Variation

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