Designated Markets - Radio AM - Calgary

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 4 4 - 4 - 5 - 5 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 13,250,757 13,231,279 -0.15 12,063,615 -8.83 11,652,923 -3.40 12,508,458 7.34 -1.4
National Time Sales 2,268,977 2,384,271 5.08 2,795,395 17.24 3,780,839 35.25 3,574,510 -5.46 12.0
Syndication-Production 1,835 0 -100.00 0 n/a 0 n/a 1,632 n/a -2.9
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 598,477 545,425 -8.86 337,965 -38.04 363,211 7.47 264,497 -27.18 -18.5
Total Revenue 16,120,046 16,160,975 0.25 15,196,975 -5.96 15,796,973 3.95 16,349,097 3.50 0.4

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 6,901,043 7,269,353 5.34 7,135,806 -1.84 7,418,543 3.96 9,187,304 23.84 7.4
Technical 680,918 713,302 4.76 737,697 3.42 616,646 -16.41 543,077 -11.93 -5.5
Sales and Promotion 4,204,738 4,052,428 -3.62 3,689,990 -8.94 3,507,639 -4.94 2,816,559 -19.70 -9.5
Administration and General 3,028,372 2,726,491 -9.97 3,411,276 25.12 3,255,859 -4.56 3,117,520 -4.25 0.7
Total Expenses 14,815,071 14,761,574 -0.36 14,974,769 1.44 14,798,687 -1.18 15,664,460 5.85 1.4

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 1,304,975 1,399,401 - 222,206 - 998,286 - 684,637 - -
Depreciation 154,603 162,153 4.88 217,073 33.87 432,616 99.30 552,500 27.71 37.5
P.B.I.T. 1,150,372 1,237,248 - 5,133 - 565,670 - 132,137 - -
Interest Expense 177,734 145,263 - 116,278 - 76,353 - -20,633 - -
Adjustments Gain(Loss) -77,832 -421,861 - -121,327 - -105,054 - -337,103 - -
Pre-tax Profit 894,806 670,124 - -232,472 - 384,263 - -184,333 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 46.6 49.2 - 47.7 - 50.1 - 58.7 - -
Prog-Prod Expense / Revenue Total 42.8 45.0 - 47.0 - 47.0 - 56.2 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 8,859,122 9,129,012 3.05 9,030,893 -1.07 8,600,400 -4.77 7,469,626 -13.15 -4.2
Total Staff Count 102.2 112.1 9.76 104.6 -6.72 107.9 3.12 89.2 -17.28 -
Avg Remuneration ($) 86,718 81,415 -6.12 86,337 6.05 79,737 -7.65 83,721 5.00 -0.9
Avg Remuneration excl. Benefits ($) 76,368 71,593 -6.25 75,622 5.63 70,197 -7.17 73,489 4.69 -1.0

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 8.1 8.7 - 1.5 - 6.3 - 4.2 - -
P.B.I.T. Margin 7.1 7.7 - 0.0 - 3.6 - 0.8 - -
Pre-tax Margin 5.6 4.1 - -1.5 - 2.4 - -1.1 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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