Designated Markets - Radio AM - Edmonton

Radio - Financial Summary 2012-2016

Table of Contents

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

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 16,709,914 16,040,770 -4.00 15,573,261 -2.91 15,646,042 0.47 13,162,690 -15.87 -5.8
National Time Sales 3,136,002 3,150,879 0.47 3,502,091 11.15 3,507,431 0.15 3,204,079 -8.65 0.5
Syndication-Production 4,635 0 n/a 0 n/a 3,414 n/a 71,254 n/a 98.0
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 832,527 646,082 -22.40 667,271 3.28 738,942 10.74 521,174 -29.47 -11.1
Total Revenue 20,683,078 19,837,731 -4.09 19,742,623 -0.48 19,895,829 0.78 16,959,197 -14.76 -4.8

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 6,888,436 6,438,640 -6.53 6,994,167 8.63 7,214,179 3.15 7,370,453 2.17 1.7
Technical 691,378 723,220 4.61 746,993 3.29 721,534 -3.41 648,738 -10.09 -1.6
Sales and Promotion 4,899,978 4,692,654 -4.23 5,162,168 10.01 4,839,550 -6.25 3,375,652 -30.25 -8.9
Administration and General 3,354,720 3,308,687 -1.37 3,375,760 2.03 2,943,341 -12.81 2,869,819 -2.50 -3.8
Total Expenses 15,834,512 15,163,201 -4.24 16,279,088 7.36 15,718,604 -3.44 14,264,662 -9.25 -2.6

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 4,848,566 4,674,530 - 3,463,535 - 4,177,225 - 2,694,535 - -
Depreciation 556,270 614,394 10.45 893,467 45.42 1,003,892 12.36 945,827 -5.78 14.2
P.B.I.T. 4,292,296 4,060,136   2,570,068   3,173,333   1,748,708    
Interest Expense 268,255 278,303 - 341,249 - 817,350 - 559,659 - -
Adjustments Gain(Loss) 4,261,955 4,138,332 - 5,367,436 - 4,560,455 - 24,291,373 - -
Pre-tax Profit 8,285,996 7,920,165   7,596,255   6,916,438   25,480,422    

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 43.5 42.5 - 43.0 - 45.9 - 51.7 - -
Prog-Prod Expense / Revenue Total 33.3 32.5 - 35.4 - 36.3 - 43.5 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 8,139,097 8,023,196 -1.42 9,066,881 13.01 7,883,358 -13.05 6,966,657 -11.63 -3.8
Total Staff Count 103.6 104.1 0.51 113.5 8.98 109.4 -3.61 97.1 -11.22 -
Avg Remuneration ($) 78,570 77,057 -1.93 79,906 3.70 72,080 -9.79 71,747 -0.46 -2.3
Avg Remuneration excl. Benefits ($) 70,905 69,167 -2.45 72,100 4.24 64,280 -10.85 64,108 -0.27 -2.5

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 23.4 23.6 - 17.5 - 21.0 - 15.9 - -
P.B.I.T. Margin 20.8 20.5 - 13.0 - 15.9 - 10.3 - -
Pre-tax Margin 40.1 39.9 - 38.5 - 34.8 - 150.2 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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