Designated Markets - Radio AM / FM - Regina

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 21,762,587 23,055,065 5.94 23,015,565 -0.17 22,692,340 -1.40 21,644,795 -4.62 -0.1
National Time Sales 3,966,925 3,967,385 0.01 3,832,312 -3.40 3,842,105 0.26 3,421,440 -10.95 -3.6
Syndication-Production -1,574 -2,229 41.61 12,194 -647.06 149 -98.78 97,518 n/a n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 586,956 358,876 -38.86 334,618 -6.76 280,146 -16.28 216,976 -22.55 -22.0
Total Revenue 26,314,894 27,379,097 4.04 27,194,689 -0.67 26,814,740 -1.40 25,380,729 -5.35 -0.9

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 8,503,457 9,144,013 7.53 9,424,858 3.07 9,786,887 3.84 9,391,017 -4.04 2.5
Technical 900,766 999,713 10.98 1,032,415 3.27 1,041,105 0.84 962,446 -7.56 1.7
Sales and Promotion 8,675,758 8,937,626 3.02 8,837,263 -1.12 8,785,120 -0.59 8,103,548 -7.76 -1.7
Administration and General 3,802,859 3,894,415 2.41 3,489,309 -10.40 3,311,071 -5.11 3,298,894 -0.37 -3.5
Total Expenses 21,882,840 22,975,767 4.99 22,783,845 -0.84 22,924,183 0.62 21,755,905 -5.10 -0.2

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 4,432,054 4,403,330 - 4,410,844 - 3,890,557 - 3,624,824 - -
Depreciation 1,326,670 1,188,277 -10.43 1,264,107 6.38 829,174 -34.41 811,243 -2.16 -11.6
P.B.I.T. 3,105,384 3,215,053 - 3,146,737 - 3,061,383 - 2,813,581 - -
Interest Expense 260,110 371,489 - 138,201 - 102,262 - 116,933 - -
Adjustments Gain(Loss) 69,268 -999,058 - -49,614 - -352,117 - -409,271 - -
Pre-tax Profit 2,914,542 1,844,506 - 2,958,922 - 2,607,004 - 2,287,377 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 38.9 39.8 - 41.4 - 42.7 - 43.2 - -
Prog-Prod Expense / Revenue Total 32.3 33.4 - 34.7 - 36.5 - 37.0 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 11,482,375 12,427,934 8.23 12,220,004 -1.67 12,611,004 3.20 12,170,497 -3.49 1.5
Total Staff Count 152.0 175.1 15.23 163.2 -6.81 157.6 -3.45 153.8 -2.41 -
Avg Remuneration ($) 75,552 70,968 -6.07 74,877 5.51 80,034 6.89 79,147 -1.11 1.2
Avg Remuneration excl. Benefits ($) 70,557 66,230 -6.13 67,678 2.19 72,726 7.46 72,519 -0.28 0.7

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 16.8 16.1 - 16.2 - 14.5 - 14.3 - -
P.B.I.T. Margin 11.8 11.7 - 11.6 - 11.4 - 11.1 - -
Pre-tax Margin 11.1 6.7 - 10.9 - 9.7 - 9.0 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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