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Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 444 454 - 466 - 478 - 484 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 721,421,283 717,828,495 -0.50 693,934,729 -3.33 679,175,837 -2.13 630,328,645 -7.19 -3.3
National Time Sales 301,453,365 324,784,481 7.74 336,242,853 3.53 347,121,620 3.24 343,301,679 -1.10 3.3
Syndication-Production 1,232,500 503,292 -59.16 856,565 70.19 990,687 15.66 2,815,497 184.20 22.9
Government/Corporate Grants 72,959 126,097 72.83 119,740 -5.04 134,142 12.03 108,704 -18.96 n/a
Other Revenue 15,925,782 10,557,541 -33.71 11,544,768 9.35 12,726,216 10.23 11,376,189 -10.61 -8.1
Total Revenue 1,040,105,889 1,053,799,906 1.32 1,042,698,655 -1.05 1,040,148,502 -0.24 987,930,714 -5.02 -1.3

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 275,889,414 284,871,067 3.26 286,779,317 0.67 286,437,796 -0.12 274,799,690 -4.06 -0.1
Technical 34,634,755 35,553,064 2.65 36,051,964 1.40 36,403,292 0.97 35,433,672 -2.66 0.6
Sales and Promotion 254,168,865 240,498,729 -5.38 243,134,596 1.10 244,518,050 0.57 232,731,832 -4.82 -2.2
Administration and General 201,983,012 203,112,722 0.56 209,255,997 3.02 205,449,091 -1.82 201,543,892 -1.90 -0.1
Total Expenses 766,676,046 764,035,582 -0.34 775,221,874 1.46 772,808,229 -0.31 744,509,086 -3.66 -0.7

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 273,429,843 289,764,324 - 267,476,781 - 267,340,273 - 243,421,628 - -
Depreciation 27,978,262 26,366,218 -5.76 28,907,080 9.64 27,378,379 -5.29 27,039,141 -1.24 -0.9
P.B.I.T. 245,451,581 263,398,106   238,569,701   239,961,894   216,382,487    
Interest Expense 7,402,380 7,252,357 - 10,279,778 - 14,083,885 - 14,055,866 - -
Adjustments Gain(Loss) 15,204,534 -78,069,010 - -20,223,893 - -12,296,673 - 87,067,186 - -
Pre-tax Profit 253,253,735 178,076,739   208,066,030   213,581,336   289,393,807    

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 36.0 37.3 - 37.0 - 37.1 - 36.9 - -
Prog-Prod Expense / Revenue Total 26.5 27.0 - 27.5 - 27.5 - 27.8 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 401,275,697 398,614,305 -0.66 391,088,357 -1.89 393,298,999 0.57 378,517,455 -3.76 -1.5
Total Staff Count 5,893.9 5,982.1 1.50 5,749.9 -3.88 5,654.8 -1.65 5,245.7 -7.24 -
Avg Remuneration ($) 68,084 66,635 -2.13 68,017 2.07 69,551 2.26 72,158 3.75 1.5
Avg Remuneration excl. Benefits ($) 57,741 59,595 3.21 61,307 2.87 63,194 3.08 65,375 3.45 3.2

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 26.3 27.5 - 25.7 - 25.7 - 24.6 - -
P.B.I.T. Margin 23.6 25.0 - 22.9 - 23.1 - 21.9 - -
Pre-tax Margin 24.3 16.9 - 20.0 - 20.5 - 29.3 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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