Designated Markets - Radio AM / FM - Medicine Hat

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 4,349,809 4,593,613 5.60 4,475,124 -2.58 4,173,192 -6.75 4,012,229 -3.86 -2.0
National Time Sales 2,312,317 2,742,101 18.59 2,603,543 -5.05 2,512,875 -3.48 1,881,008 -25.15 -5.0
Syndication-Production 0 0 n/a 0 n/a 0 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 40,273 20,401 -49.34 21,422 5.00 82 -99.62 23,289 n/a -12.8
Total Revenue 6,702,399 7,356,115 9.75 7,100,089 -3.48 6,686,149 -5.83 5,916,526 -11.51 -3.1

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 2,226,349 2,207,196 -0.86 2,371,593 7.45 2,273,137 -4.15 2,218,962 -2.38 -0.1
Technical 305,420 303,908 -0.50 321,791 5.88 321,495 -0.09 300,465 -6.54 -0.4
Sales and Promotion 1,604,183 1,741,162 8.54 1,773,979 1.88 1,557,511 -12.20 1,472,845 -5.44 -2.1
Administration and General 1,739,627 1,668,226 -4.10 1,757,657 5.36 1,628,540 -7.35 1,505,241 -7.57 -3.6
Total Expenses 5,875,579 5,920,492 0.76 6,225,020 5.14 5,780,683 -7.14 5,497,513 -4.90 -1.7

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 826,820 1,435,623 - 875,069 - 905,466 - 419,013 - -
Depreciation 233,013 237,024 1.72 205,065 -13.48 182,578 -10.97 139,807 -23.43 -12.0
P.B.I.T. 593,807 1,198,599 - 670,004 - 722,888 - 279,206 - -
Interest Expense 23,329 12,233 - 21,205 - 9,064 - 9,573 - -
Adjustments Gain(Loss) -96,493 -145,356 - -311,043 - -199,685 - -164,208 - -
Pre-tax Profit 473,985 1,041,010 - 337,756 - 514,139 - 105,425 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 37.9 37.3 - 38.1 - 39.3 - 40.4 - -
Prog-Prod Expense / Revenue Total 33.2 30.0 - 33.4 - 34.0 - 37.5 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 3,463,073 3,513,038 1.44 3,548,195 1.00 3,339,909 -5.87 3,202,679 -4.11 -1.9
Total Staff Count 75.9 69.9 -7.87 66.6 -4.73 64.5 -3.26 61.5 -4.61 -
Avg Remuneration ($) 45,627 50,236 10.10 53,260 6.02 51,822 -2.70 52,093 0.52 3.4
Avg Remuneration excl. Benefits ($) 40,514 44,227 9.16 47,783 8.04 46,676 -2.32 46,189 -1.04 3.3

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 12.3 19.5 - 12.3 - 13.5 - 7.1 - -
P.B.I.T. Margin 8.9 16.3 - 9.4 - 10.8 - 4.7 - -
Pre-tax Margin 7.1 14.2 - 4.8 - 7.7 - 1.8 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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