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Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 129 129 - 126 - 124 - 124 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 244,008,544 236,447,138 -3.10 224,636,202 -5.00 216,078,780 -3.81 209,499,232 -3.04 -3.7
National Time Sales 52,446,714 50,679,978 -3.37 58,564,717 15.56 62,746,475 7.14 67,917,428 8.24 6.7
Syndication-Production 1,069,397 636,552 -40.48 915,947 43.89 1,058,534 15.57 1,911,601 80.59 15.6
Government/Corporate Grants 7,500 10,200 36.00 0 n/a 0 n/a 1,123 n/a n/a
Other Revenue 8,666,397 6,850,842 -20.95 6,082,776 -11.21 6,077,904 -0.08 5,037,494 -17.12 -12.7
Total Revenue 306,198,552 294,624,710 -3.78 290,199,642 -1.50 285,961,693 -1.46 284,366,878 -0.56 -1.8

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 117,280,075 117,429,126 0.13 124,223,767 5.79 125,936,424 1.38 130,813,989 3.87 2.8
Technical 12,382,686 12,350,841 -0.26 11,876,987 -3.84 10,998,626 -7.40 11,011,382 0.12 -2.9
Sales and Promotion 68,334,332 65,707,970 -3.84 66,250,239 0.83 62,904,691 -5.05 57,890,096 -7.97 -4.1
Administration and General 67,495,913 66,421,234 -1.59 66,150,337 -0.41 60,880,510 -7.97 60,386,637 -0.81 -2.7
Total Expenses 265,493,006 261,909,171 -1.35 268,501,330 2.52 260,720,251 -2.90 260,102,104 -0.24 -0.5

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 40,705,546 32,715,539 - 21,698,312 - 25,241,442 - 24,264,774 - -
Depreciation 8,060,619 7,911,308 -1.85 8,508,691 7.55 8,116,179 -4.61 9,176,733 13.07 3.3
P.B.I.T. 32,644,927 24,804,231   13,189,621   17,125,263   15,088,041    
Interest Expense 1,649,503 1,764,516 - 2,081,651 - 2,725,235 - 2,291,335 - -
Adjustments Gain(Loss) 14,541,455 1,694,525 - 19,782,760 - 6,085,757 - 84,730,433 - -
Pre-tax Profit 45,536,879 24,734,240   30,890,730   20,485,785   97,527,139    

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 44.2 44.8 - 46.3 - 48.3 - 50.3 - -
Prog-Prod Expense / Revenue Total 38.3 39.9 - 42.8 - 44.0 - 46.0 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 148,109,642 149,998,044 1.28 149,798,466 -0.13 142,350,253 -4.97 137,031,491 -3.74 -1.9
Total Staff Count 2,419.4 2,381.1 -1.58 2,305.2 -3.19 2,172.6 -5.75 1,964.4 -9.58 -
Avg Remuneration ($) 61,218 62,995 2.90 64,983 3.16 65,520 0.83 69,758 6.47 3.3
Avg Remuneration excl. Benefits ($) 54,386 56,117 3.18 58,309 3.91 58,796 0.83 62,797 6.80 3.7

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 13.3 11.1 - 7.5 - 8.8 - 8.5 - -
P.B.I.T. Margin 10.7 8.4 - 4.5 - 6.0 - 5.3 - -
Pre-tax Margin 14.9 8.4 - 10.6 - 7.2 - 34.3 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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