Non-designated Markets - Radio AM / FM - Ontario

Commercial Radio - Financial Summary 2011-2015

Table of Contents

Reporting Units
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Reporting Units 100 103   104   106   110    

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Local Time Sales 85,741,551 85,464,041 -0.32 86,132,999 0.78 87,049,351 1.06 86,729,870 -0.37 0.3
National Time Sales 18,508,938 14,595,924 -21.14 16,406,410 12.40 19,296,730 17.62 19,939,817 3.33 1.9
Syndication-Production 24,306 53,458 119.94 23,906 -55.28 84,525 253.57 59,815 -29.23 25.3
Government/Corporate Grants 1,455 721 -50.45 0 -100.00 0 n/a 0 n/a n/a
Other Revenue 674,620 625,888 -7.22 622,312 -0.57 761,302 22.33 1,043,985 37.13 11.5
Total Revenue 104,950,870 100,740,032 -4.01 103,185,627 2.43 107,191,908 3.88 107,773,487 0.54 0.7

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming 30,633,184 30,554,938 -0.26 30,428,889 -0.41 30,095,939 -1.09 30,683,575 1.95 0.0
Technical 5,146,285 5,232,746 1.68 5,572,409 6.49 5,886,735 5.64 5,901,335 0.25 3.5
Sales and Promotion 29,546,711 27,726,079 -6.16 27,351,727 -1.35 28,179,278 3.03 29,005,881 2.93 -0.5
Administration and General 24,548,297 23,403,821 -4.66 23,554,246 0.64 23,215,783 -1.44 24,365,677 4.95 -0.2
Total Expenses 89,874,477 86,917,584 -3.29 86,907,271 -0.01 87,377,735 0.54 89,956,468 2.95 0.0

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 15,076,393 13,822,448   16,278,356   19,814,173   17,817,019    
Depreciation 4,011,064 4,016,346 0.13 3,588,961 -10.64 3,956,190 10.23 3,707,667 -6.28 -2.0
P.B.I.T. 11,065,329 9,806,102   12,689,395   15,857,983   14,109,352    
Interest Expense 709,778 925,830   835,257   799,870   819,911    
Adjustments Gain(Loss) 4,217,011 354,547   8,721,786   -6,153,407   -1,677,827    
Pre-tax Profit 14,572,562 9,234,819   20,575,924   8,904,706   11,611,614    

Programming Expense (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming Expense / Expense Total 34.1 35.2   35.0   34.4   34.1    
Programming Expense / Revenue Total 29.2 30.3   29.5   28.1   28.5    

Staff ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 52,921,161 51,636,487 -2.43 51,668,196 0.06 51,882,591 0.41 53,560,700 3.23 0.3
Avg Staff Count 1,025.6 1,009.4 -1.58 1,064.8 5.48 991.5 -6.88 979.8 -1.19  
Avg Remuneration ($) 51,599 51,156 -0.86 48,526 -5.14 52,325 7.83 54,666 4.47 1.5
Avg Remuneration excl. Benefits ($) 46,232 25,706 -44.40 43,560 69.45 46,965 7.82 49,061 4.46 1.5

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 14.4 13.7   15.8   18.5   16.5    
P.B.I.T. Margin 10.5 9.7   12.3   14.8   13.1    
Pre-tax Margin 13.9 9.2   19.9   8.3   10.8    

CAGR = Compound Annual Growth Rate

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

Var = Variation

Date modified: