Designated Markets - Radio AM / FM - Red Deer

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 7 7 - 7 - 7 - 7 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 10,983,407 10,609,167 -3.41 10,848,884 2.26 11,949,537 10.15 11,008,745 -7.87 0.1
National Time Sales 3,159,382 3,543,448 12.16 3,356,607 -5.27 2,478,438 -26.16 1,988,513 -19.77 -10.9
Syndication-Production -12,953 -5,002 -61.38 -8,165 63.23 -13,560 66.07 16,628 -222.63 n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 76,651 49,051 -36.01 44,713 -8.84 52,920 18.35 64,019 20.97 -4.4
Total Revenue 14,206,487 14,196,664 -0.07 14,242,039 0.32 14,467,335 1.58 13,077,905 -9.60 -2.1

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 4,016,284 3,995,794 -0.51 4,157,515 4.05 4,231,396 1.78 4,132,726 -2.33 0.7
Technical 609,998 633,057 3.78 619,637 -2.12 572,720 -7.57 520,802 -9.07 -3.9
Sales and Promotion 3,661,757 3,546,005 -3.16 3,549,952 0.11 3,650,536 2.83 3,684,086 0.92 0.2
Administration and General 3,622,392 3,820,147 5.46 3,985,658 4.33 4,105,763 3.01 3,897,789 -5.07 1.9
Total Expenses 11,910,431 11,995,003 0.71 12,312,762 2.65 12,560,415 2.01 12,235,403 -2.59 0.7

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 2,296,056 2,201,661 - 1,929,277 - 1,906,920 - 842,502 - -
Depreciation 433,475 380,793 -12.15 331,769 -12.87 434,798 31.05 362,876 -16.54 -4.4
P.B.I.T. 1,862,581 1,820,868 - 1,597,508 - 1,472,122 - 479,626 - -
Interest Expense 234,771 232,465 - 250,795 - 322,676 - 246,821 - -
Adjustments Gain(Loss) -58,639 -180,254 - -67,626 - -222,103 - -270,019 - -
Pre-tax Profit 1,569,171 1,408,149 - 1,279,087 - 927,343 - -37,214 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 33.7 33.3 - 33.8 - 33.7 - 33.8 - -
Prog-Prod Expense / Revenue Total 28.3 28.1 - 29.2 - 29.2 - 31.6 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 6,642,583 6,735,884 1.40 7,085,773 5.19 7,244,292 2.24 6,746,277 -6.87 0.4
Total Staff Count 120.5 129.7 7.63 128.6 -0.89 119.1 -7.37 100.5 -15.59 -
Avg Remuneration ($) 55,125 51,934 -5.79 55,121 6.14 60,836 10.37 67,120 10.33 5.1
Avg Remuneration excl. Benefits ($) 50,507 47,213 -6.52 49,856 5.60 55,582 11.48 59,760 7.52 4.3

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 16.2 15.5 - 13.5 - 13.2 - 6.4 - -
P.B.I.T. Margin 13.1 12.8 - 11.2 - 10.2 - 3.7 - -
Pre-tax Margin 11.0 9.9 - 9.0 - 6.4 - -0.3 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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