Radio AM / FM - Canada - Ethnic

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 24 25 - 24 - 23 - 24 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 39,581,776 40,318,924 1.86 40,935,659 1.53 41,152,866 0.53 40,959,211 -0.47 0.9
National Time Sales 2,655,351 2,218,281 -16.46 2,336,755 5.34 2,311,071 -1.10 2,248,778 -2.70 -4.1
Syndication-Production 354,189 396,003 11.81 391,594 -1.11 430,498 9.93 521,489 21.14 10.2
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 2,792,721 3,280,166 17.45 2,329,275 -28.99 2,763,789 18.65 2,602,834 -5.82 -1.7
Total Revenue 45,384,037 46,213,374 1.83 45,993,283 -0.48 46,658,224 1.45 46,332,312 -0.70 0.5

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 14,133,295 15,162,373 7.28 14,942,817 -1.45 15,625,064 4.57 16,254,405 4.03 3.6
Technical 2,823,250 2,962,877 4.95 3,010,965 1.62 2,920,806 -2.99 2,890,621 -1.03 0.6
Sales and Promotion 7,616,303 8,034,491 5.49 6,916,620 -13.91 7,596,010 9.82 6,930,268 -8.76 -2.3
Administration and General 14,249,203 13,690,758 -3.92 13,458,292 -1.70 12,785,773 -5.00 12,074,146 -5.57 -4.1
Total Expenses 38,822,051 39,850,499 2.65 38,328,694 -3.82 38,927,653 1.56 38,149,440 -2.00 -0.4

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 6,561,986 6,362,875 - 7,664,589 - 7,730,571 - 8,182,872 - -
Depreciation 1,047,179 909,370 -13.16 878,502 -3.39 865,789 -1.45 1,093,307 26.28 1.1
P.B.I.T. 5,514,807 5,453,505   6,786,087   6,864,782   7,089,565    
Interest Expense 262,819 297,877 - 303,118 - 240,119 - 179,203 - -
Adjustments Gain(Loss) -309,420 190,444 - 900,340 - 394,618 - 948,022 - -
Pre-tax Profit 4,942,568 5,346,072   7,383,309   7,019,281   7,858,384   -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 36.4 38.0 - 39.0 - 40.1 - 42.6 - -
Prog-Prod Expense / Revenue Total 31.1 32.8 - 32.5 - 33.5 - 35.1 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 19,220,567 20,226,614 5.23 19,898,033 -1.62 19,540,401 -1.80 19,525,963 -0.07 0.4
Total Staff Count 721.8 749.6 3.85 748.8 -0.10 637.2 -14.90 708.2 11.13 -
Avg Remuneration ($)
26,630 26,985 1.33 26,574 -1.52 30,666 15.40 27,573 -10.09 0.9
Avg Remuneration excl. Benefits ($) 25,044 25,366 1.29 23,992 -5.42 28,155 17.35 25,073 -10.94 0.0

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 14.5 13.8 - 16.7 - 16.6 - 17.7 - -
P.B.I.T. Margin 12.2 11.8 - 14.8 - 14.7 - 15.3 - -
Pre-tax Margin 10.9 11.6 - 16.1 - 15.0 - 17.0 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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