Designated Markets - Radio AM / FM - Kingston

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 6 6 - 6 - 6 - 6 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 6,533,707 6,489,884 -0.67 5,981,531 -7.83 4,625,845 -22.66 3,972,332 -14.13 -11.7
National Time Sales 2,116,760 2,222,297 4.99 2,261,418 1.76 2,569,992 13.65 2,900,706 12.87 8.2
Syndication-Production 0 0 n/a 0 n/a 1,365 n/a 16,374 n/a n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 281,058 316,021 12.44 229,591 -27.35 59,602 -74.04 13,909 -76.66 -52.8
Total Revenue 8,931,525 9,028,202 1.08 8,472,540 -6.15 7,256,804 -14.35 6,903,321 -4.87 -6.2

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 2,890,969 2,875,379 -0.54 2,768,973 -3.70 2,510,387 -9.34 2,330,747 -7.16 -5.2
Technical 305,453 306,894 0.47 326,558 6.41 300,789 -7.89 331,133 10.09 2.0
Sales and Promotion 2,992,368 2,806,606 -6.21 2,660,564 -5.20 1,985,681 -25.37 1,935,806 -2.51 -10.3
Administration and General 1,782,646 1,770,970 -0.65 1,941,236 9.61 1,961,944 1.07 1,623,609 -17.24 -2.3
Total Expenses 7,971,436 7,759,849 -2.65 7,697,331 -0.81 6,758,801 -12.19 6,221,295 -7.95 -6.0

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 960,089 1,268,353 - 775,209 - 498,003 - 682,026 - -
Depreciation 304,534 243,426 -20.07 231,944 -4.72 215,110 -7.26 217,068 0.91 -8.1
P.B.I.T. 655,555 1,024,927 - 543,265 - 282,893 - 464,958 - -
Interest Expense 15,174 5,139 - 12,404 - 2,420 - -8,666 - -
Adjustments Gain(Loss) -287,364 -8,146,069 - 51,767 - -145,011 - -75,100 - -
Pre-tax Profit 353,017 -7,126,281 - 582,628 - 135,462 - 398,524 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 36.3 37.1 - 36.0 - 37.1 - 37.5 - -
Prog-Prod Expense / Revenue Total 32.4 31.8 - 32.7 - 34.6 - 33.8 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 4,326,112 4,244,341 -1.89 4,060,218 -4.34 3,779,398 -6.92 3,439,631 -8.99 -5.6
Total Staff Count 67.3 68.6 1.99 64.8 -5.57 55.8 -13.95 47.0 -15.80 -
Avg Remuneration ($) 64,300 61,853 -3.81 62,658 1.30 67,780 8.17 73,262 8.09 3.3
Avg Remuneration excl. Benefits ($) 55,854 53,343 -4.50 54,307 1.81 58,711 8.11 63,632 8.38 3.3

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 10.7 14.0 - 9.1 - 6.9 - 9.9 - -
P.B.I.T. Margin 7.3 11.4 - 6.4 - 3.9 - 6.7 - -
Pre-tax Margin 4.0 -78.9 - 6.9 - 1.9 - 5.8 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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