Radio AM / FM - Canada - French

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 96 97 - 96 - 98 - 98 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 152,082,568 153,652,018 1.03 155,827,526 1.42 154,519,958 -0.84 152,971,838 -1.00 0.2
National Time Sales 100,279,970 101,108,918 0.83 102,460,678 1.34 98,867,537 -3.51 103,490,531 4.68 0.8
Syndication-Production 1,532,799 1,864,282 21.63 4,349,954 133.33 4,091,737 -5.94 3,851,013 -5.88 25.9
Government/Corporate Grants 20,060 15,815 -21.16 4,446 -71.89 6,200 39.45 5,418 -12.61 n/a
Other Revenue 4,142,380 1,384,210 -66.58 870,736 -37.10 974,698 11.94 1,039,264 6.62 -29.2
Total Revenue 258,057,777 258,025,243 -0.01 263,513,340 2.13 258,460,130 -1.92 261,358,064 1.12 0.3

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 90,217,618 92,379,990 2.40 91,869,963 -0.55 92,908,319 1.13 87,141,820 -6.21 -0.9
Technical 11,653,141 10,333,875 -11.32 9,947,105 -3.74 9,356,468 -5.94 10,052,863 7.44 -3.6
Sales and Promotion 62,702,754 62,543,221 -0.25 62,698,177 0.25 63,678,266 1.56 62,105,937 -2.47 -0.2
Administration and General 46,430,901 47,182,107 1.62 47,528,799 0.73 42,326,930 -10.94 41,132,229 -2.82 -3.0
Total Expenses 211,004,414 212,439,193 0.68 212,044,044 -0.19 208,269,983 -1.78 200,432,849 -3.76 -1.3

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 47,053,363 45,586,050 - 51,469,296 - 50,190,147 - 60,925,215 - -
Depreciation 7,421,676 8,411,265 13.33 7,370,286 -12.38 6,991,913 -5.13 7,588,064 8.53 0.6
P.B.I.T. 39,631,687 37,174,785 - 44,099,010 - 43,198,234 - 53,337,151 - -
Interest Expense 930,318 2,768,603 - 3,332,078 - 3,073,615 - 3,562,328 - -
Adjustments Gain(Loss) 27,200,734 26,739,015 - 1,725,718 - -1,343,316 - -4,729,642 - -
Pre-tax Profit 65,902,103 61,145,197 - 42,492,650 - 38,781,303 - 45,045,181 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 42.8 43.5 - 43.3 - 44.6 - 43.5 - -
Prog-Prod Expense / Revenue Total 35.0 35.8 - 34.9 - 35.9 - 33.3 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 125,981,239 124,592,535 -1.10 126,647,519 1.65 127,798,276 0.91 115,690,559 -9.47 -2.1
Total Staff Count 1,600.9 1,607.0 0.38 1,550.5 -3.51 1,483.5 -4.32 1,370.7 -7.61 -
Avg Remuneration ($) 78,695 77,533 -1.48 81,681 5.35 86,145 5.46 84,404 -2.02 1.8
Avg Remuneration excl. Benefits ($) 67,825 67,413 -0.61 73,400 8.88 77,872 6.09 75,224 -3.40 2.6

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 18.2 17.7 - 19.5 - 19.4 - 23.3 - -
P.B.I.T. Margin 15.4 14.4 - 16.7 - 16.7 - 20.4 - -
Pre-tax Margin 25.5 23.7 - 16.1 - 15.0 - 17.2 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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