Designated Markets - Radio AM / FM - Victoria

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 11,381,708 11,411,688 0.26 11,069,092 -3.00 10,577,786 -4.44 10,522,637 -0.52 -1.9
National Time Sales 6,306,567 5,957,523 -5.53 6,316,154 6.02 5,701,921 -9.72 5,349,829 -6.17 -4.0
Syndication-Production 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 67,521 56,506 -16.31 66,830 18.27 53,744 -19.58 33,265 -38.10 -16.2
Total Revenue 17,755,796 17,425,717 -1.86 17,452,076 0.15 16,333,451 -6.41 15,905,731 -2.62 -2.7

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming 5,020,665 5,235,354 4.28 5,603,754 7.04 5,676,602 1.30 5,508,394 -2.96 2.3
Technical 601,999 611,902 1.65 622,759 1.77 708,663 13.79 732,101 3.31 5.0
Sales and Promotion 5,113,449 4,697,433 -8.14 4,171,527 -11.20 4,363,840 4.61 4,455,272 2.10 -3.4
Administration and General 4,336,725 4,020,343 -7.30 3,567,040 -11.28 3,858,845 8.18 3,364,679 -12.81 -6.2
Total Expenses 15,072,838 14,565,032 -3.37 13,965,080 -4.12 14,607,950 4.60 14,060,446 -3.75 -1.7

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 2,682,958 2,860,685   3,486,996   1,725,501   1,845,285    
Depreciation 468,808 483,310 3.09 466,017 -3.58 516,880 10.91 499,803 -3.30 1.6
P.B.I.T. 2,214,150 2,377,375   3,020,979   1,208,621   1,345,482    
Interest Expense 280,516 20,849   7,235   11,344   -281    
Adjustments Gain(Loss) -421,478 -532,042   -2,237,667   -498,074   -825,893    
Pre-tax Profit 1,512,156 1,824,484   776,077   699,203   519,870    

Programming Expense (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming Expense / Expense Total 33.3 35.9   40.1   38.9   39.2    
Programming Expense / Revenue Total 28.3 30.0   32.1   34.8   34.6    

Staff ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 8,337,240 7,920,944 -4.99 7,540,653 -4.80 7,912,692 4.93 7,831,278 -1.03 -1.6
Avg Staff Count 109.3 102.8 -5.92 106.4 3.50 98.5 -7.41 97.5 -1.02  
Avg Remuneration ($) 76,306 77,059 0.99 70,877 -8.02 80,324 13.33 80,313 -0.01 1.3
Avg Remuneration excl. Benefits ($) 68,858 69,135 0.40 63,211 -8.57 72,341 14.44 72,300 -0.06 1.2

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 15.1 16.4   20.0   10.6   11.6    
P.B.I.T. Margin 12.5 13.6   17.3   7.4   8.5    
Pre-tax Margin 8.5 10.5   4.4   4.3   3.3    

CAGR = Compound Annual Growth Rate

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

Var = Variation

Date modified: