Designated Markets - Radio AM / FM - Grande Prairie

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 10,200,784 10,812,192 5.99 11,009,451 1.82 11,016,802 0.07 9,885,520 -10.27 -0.8
National Time Sales 2,841,162 3,378,861 18.93 3,285,387 -2.77 3,271,335 -0.43 2,460,767 -24.78 -3.5
Syndication-Production 0 0 n/a 0 n/a 11,801 n/a 0 n/a n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 77,683 64,602 -16.84 52,143 -19.29 98,066 88.07 131,231 33.82 14.0
Total Revenue 13,119,629 14,255,655 8.66 14,346,981 0.64 14,398,004 0.36 12,477,518 -13.34 -1.3

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 3,059,069 3,085,331 0.86 3,168,602 2.70 3,209,923 1.30 3,051,767 -4.93 -0.1
Technical 397,027 405,966 2.25 441,244 8.69 370,708 -15.99 382,492 3.18 -0.9
Sales and Promotion 2,695,656 2,997,568 11.20 2,718,505 -9.31 2,932,392 7.87 2,683,256 -8.50 -0.1
Administration and General 2,885,539 2,894,895 0.32 3,074,946 6.22 3,185,433 3.59 2,502,621 -21.44 -3.5
Total Expenses 9,037,291 9,383,760 3.83 9,403,297 0.21 9,698,456 3.14 8,620,136 -11.12 -1.2

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 4,082,338 4,871,895 - 4,943,684 - 4,699,548 - 3,857,382 - -
Depreciation 268,198 254,536 -5.09 259,393 1.91 288,532 11.23 277,457 -3.84 0.9
P.B.I.T. 3,814,140 4,617,359 - 4,684,291 - 4,411,016 - 3,579,925 - -
Interest Expense 94,786 135,802 - 144,020 - 157,537 - 176,518 - -
Adjustments Gain(Loss) -424,403 -384,117 - -1,831,753 - -206,198 - -396,798 - -
Pre-tax Profit 3,294,951 4,097,440 - 2,708,518 - 4,047,281 - 3,006,609 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 33.8 32.9 - 33.7 - 33.1 - 35.4 - -
Prog-Prod Expense / Revenue Total 23.3 21.6 - 22.1 - 22.3 - 24.5 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 5,021,695 5,290,341 5.35 5,085,215 -3.88 5,144,065 1.16 4,523,226 -12.07 -2.6
Total Staff Count 81.5 80.8 -0.82 73.6 -8.95 74.8 1.66 74.6 -0.20 -
Avg Remuneration ($) 61,654 65,491 6.22 69,140 5.57 68,799 -0.49 60,617 -11.89 -0.4
Avg Remuneration excl. Benefits ($) 55,929 60,343 7.89 62,877 4.20 63,569 1.10 54,626 -14.07 -0.6

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 31.1 34.2 - 34.5 - 32.6 - 30.9 - -
P.B.I.T. Margin 29.1 32.4 - 32.7 - 30.6 - 28.7 - -
Pre-tax Margin 25.1 28.7 - 18.9 - 28.1 - 24.1 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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