Designated Markets - Radio AM / FM - Saint John

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 4,676,623 3,991,374 -14.65 4,133,593 3.56 4,775,591 15.53 5,336,620 11.75 3.4
National Time Sales 1,651,684 1,719,839 4.13 1,610,024 -6.39 1,657,562 2.95 1,787,316 7.83 2.0
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 9,937 8,387 -15.60 8,198 -2.25 5,444 -33.59 5,400 -0.81 -14.1
Total Revenue 6,338,244 5,719,600 -9.76 5,751,815 0.56 6,438,597 11.94 7,129,336 10.73 3.0

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 1,970,344 2,009,891 2.01 1,671,925 -16.82 1,700,154 1.69 1,681,101 -1.12 -3.9
Technical 280,905 238,459 -15.11 257,119 7.83 245,733 -4.43 244,217 -0.62 -3.4
Sales and Promotion 1,553,965 1,556,133 0.14 1,519,591 -2.35 1,630,329 7.29 1,726,779 5.92 2.7
Administration and General 1,638,239 1,532,229 -6.47 1,318,672 -13.94 1,517,479 15.08 1,597,090 5.25 -0.6
Total Expenses 5,443,453 5,336,712 -1.96 4,767,307 -10.67 5,093,695 6.85 5,249,187 3.05 -0.9

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 894,791 382,888 - 984,508 - 1,344,902 - 1,880,149 - -
Depreciation 252,140 227,623 -9.72 201,753 -11.37 228,090 13.05 237,049 3.93 -1.5
P.B.I.T. 642,651 155,265 - 782,755 - 1,116,812 - 1,643,100 - -
Interest Expense 50,034 35,019 - 27,799 - 82,909 - 57,461 - -
Adjustments Gain(Loss) 26,600 19,087 - -15,532 - 19,724 - 17,530 - -
Pre-tax Profit 619,217 139,333 - 739,424 - 1,053,627 - 1,603,169 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 36.2 37.7 - 35.1 - 33.4 - 32.0 - -
Prog-Prod Expense / Revenue Total 31.1 35.1 - 29.1 - 26.4 - 23.6 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 2,777,771 2,596,686 -6.52 2,501,555 -3.66 2,648,857 5.89 2,475,052 -6.56 -2.8
Total Staff Count 63.1 52.2 -17.28 45.6 -12.60 47.0 2.98 44.7 -4.96 -
Avg Remuneration ($) 44,001 49,726 13.01 54,811 10.23 56,359 2.82 55,407 -1.69 5.9
Avg Remuneration excl. Benefits ($) 38,897 43,501 11.84 48,583 11.68 50,823 4.61 49,469 -2.66 6.2

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 14.1 6.7 - 17.1 - 20.9 - 26.4 - -
P.B.I.T. Margin 10.1 2.7 - 13.6 - 17.3 - 23.0 - -
Pre-tax Margin 9.8 2.4 - 12.9 - 16.4 - 22.5 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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