Designated Markets - Radio FM - Edmonton

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 14 14 - 14 - 14 - 14 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 46,132,757 47,080,494 2.05 47,334,069 0.54 45,529,630 -3.81 36,326,811 -20.21 -5.8
National Time Sales 22,936,805 26,534,395 15.68 25,259,483 -4.80 26,496,007 4.90 25,332,674 -4.39 2.5
Syndication-Production 362,191 19,871 -94.51 112,668 467.00 2,481 -97.80 94,696 n/a -28.5
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 922,508 606,303 -34.28 656,641 8.30 947,059 44.23 702,635 -25.81 -6.6
Total Revenue 70,354,261 74,241,063 5.52 73,362,861 -1.18 72,975,177 -0.53 62,456,816 -14.41 -2.9

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 20,812,166 21,093,755 1.35 21,078,903 -0.07 21,018,457 -0.29 19,419,963 -7.61 -1.7
Technical 2,211,898 2,118,388 -4.23 2,128,070 0.46 2,088,978 -1.84 1,762,702 -15.62 -5.5
Sales and Promotion 19,484,211 18,518,944 -4.95 18,520,560 0.01 18,965,390 2.40 15,530,334 -18.11 -5.5
Administration and General 10,496,126 10,928,124 4.12 11,485,564 5.10 11,321,095 -1.43 10,527,574 -7.01 0.1
Total Expenses 53,004,401 52,659,211 -0.65 53,213,097 1.05 53,393,920 0.34 47,240,573 -11.52 -2.8

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 17,349,860 21,581,852 - 20,149,764 - 19,581,257 - 15,216,243 - -
Depreciation 1,958,259 1,529,272 -21.91 1,802,392 17.86 1,462,926 -18.83 1,378,418 -5.78 -8.4
P.B.I.T. 15,391,601 20,052,580   18,347,372   18,118,331   13,837,825    
Interest Expense 791,985 731,965 - 785,556 - 2,579,837 - 3,636,886 - -
Adjustments Gain(Loss) 2,740,271 -5,231,848 - -601,165 - -955,232 - 4,219,424 - -
Pre-tax Profit 17,339,887 14,088,767   16,960,651   14,583,262   14,420,363    

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 39.3 40.1 - 39.6 - 39.4 - 41.1 - -
Prog-Prod Expense / Revenue Total 29.6 28.4 - 28.7 - 28.8 - 31.1 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 26,993,235 26,691,012 -1.12 26,079,557 -2.29 26,216,968 0.53 23,499,313 -10.37 -3.4
Total Staff Count 310.5 315.2 1.51 288.6 -8.44 315.0 9.14 248.2 -21.22 -
Avg Remuneration ($) 86,932 84,677 -2.59 90,359 6.71 83,231 -7.89 94,694 13.77 2.2
Avg Remuneration excl. Benefits ($) 78,962 76,446 -3.19 82,013 7.28 76,765 -6.40 86,911 13.22 2.4

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 24.7 29.1 - 27.5 - 26.8 - 24.4 - -
P.B.I.T. Margin 21.9 27.0 - 25.0 - 24.8 - 22.2 - -
Pre-tax Margin 24.6 19.0 - 23.1 - 20.0 - 23.1 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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