Designated Markets - Radio AM / FM - Lethbridge

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 5,969,674 6,119,249 2.51 6,444,843 5.32 6,504,304 0.92 6,597,099 1.43 2.5
National Time Sales 3,132,266 3,286,625 4.93 3,211,938 -2.27 3,014,530 -6.15 2,592,663 -13.99 -4.6
Syndication-Production 32,333 26,498 -18.05 14,288 -46.08 18,459 29.19 15,472 -16.18 -16.8
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 60,006 50,030 -16.63 42,537 -14.98 2,264 -94.68 3,850 70.05 -49.7
Total Revenue 9,194,279 9,482,402 3.13 9,713,606 2.44 9,539,557 -1.79 9,209,084 -3.46 0.0

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 2,299,461 2,413,024 4.94 2,600,952 7.79 2,654,559 2.06 2,766,794 4.23 4.7
Technical 353,955 382,360 8.03 381,352 -0.26 386,140 1.26 368,031 -4.69 1.0
Sales and Promotion 2,314,764 2,360,795 1.99 2,363,536 0.12 2,518,217 6.54 2,346,617 -6.81 0.3
Administration and General 2,507,100 2,152,051 -14.16 2,215,581 2.95 2,119,484 -4.34 2,004,536 -5.42 -5.4
Total Expenses 7,475,280 7,308,230 -2.23 7,561,421 3.46 7,678,400 1.55 7,485,978 -2.51 0.0

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 1,718,999 2,174,172 - 2,152,185 - 1,861,157 - 1,723,106 - -
Depreciation 301,570 296,946 -1.53 283,116 -4.66 220,445 -22.14 174,559 -20.82 -12.8
P.B.I.T. 1,417,429 1,877,226 - 1,869,069 - 1,640,712 - 1,548,547 - -
Interest Expense 31,828 9,455 - 14,563 - 120,000 - 166,315 - -
Adjustments Gain(Loss) -101,041 -98,014 - -123,652 - -181,890 - -84,124 - -
Pre-tax Profit 1,284,560 1,769,757 - 1,730,854 - 1,338,822 - 1,298,108 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 30.8 33.0 - 34.4 - 34.6 - 37.0 - -
Prog-Prod Expense / Revenue Total 25.0 25.4 - 26.8 - 27.8 - 30.0 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 3,902,591 3,968,771 1.70 4,214,889 6.20 4,194,391 -0.49 3,881,388 -7.46 -0.1
Total Staff Count 70.1 75.4 7.57 72.1 -4.38 68.8 -4.58 65.3 -5.06 -
Avg Remuneration ($) 55,672 52,629 -5.47 58,451 11.06 60,956 4.29 59,412 -2.53 1.6
Avg Remuneration excl. Benefits ($) 49,462 46,543 -5.90 53,300 14.52 56,062 5.18 53,534 -4.51 2.0

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 18.7 22.9 - 22.2 - 19.5 - 18.7 - -
P.B.I.T. Margin 15.4 19.8 - 19.2 - 17.2 - 16.8 - -
Pre-tax Margin 14.0 18.7 - 17.8 - 14.0 - 14.1 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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