Designated Markets - Radio AM / FM - Saskatoon

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 8 8 - 8 - 8 - 8 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 24,765,764 25,470,149 2.84 24,784,326 -2.69 25,570,203 3.17 25,005,682 -2.21 0.2
National Time Sales 5,547,163 5,175,505 -6.70 5,061,276 -2.21 4,863,659 -3.90 4,123,942 -15.21 -7.1
Syndication-Production 8,210 5,586 -31.96 -4,394 -178.66 -469 -89.33 24 -105.12 -76.8
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 493,832 792,677 60.52 769,858 -2.88 458,742 -40.41 324,679 -29.22 -10.0
Total Revenue 30,814,969 31,443,917 2.04 30,611,066 -2.65 30,892,135 0.92 29,454,327 -4.65 -1.1

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 11,524,886 11,881,038 3.09 12,137,829 2.16 12,109,771 -0.23 11,966,386 -1.18 0.9
Technical 1,015,674 932,041 -8.23 911,548 -2.20 1,004,817 10.23 963,589 -4.10 -1.3
Sales and Promotion 9,451,535 9,864,282 4.37 9,664,401 -2.03 9,605,604 -0.61 9,477,918 -1.33 0.1
Administration and General 4,923,555 5,258,134 6.80 5,257,083 -0.02 5,231,802 -0.48 5,004,696 -4.34 0.4
Total Expenses 26,915,650 27,935,495 3.79 27,970,861 0.13 27,951,994 -0.07 27,412,589 -1.93 0.5

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 3,899,319 3,508,422 - 2,640,205 - 2,940,141 - 2,041,738 - -
Depreciation 1,139,706 1,094,691 -3.95 1,002,974 -8.38 971,972 -3.09 812,705 -16.39 -8.1
P.B.I.T. 2,759,613 2,413,731 - 1,637,231 - 1,968,169 - 1,229,033 - -
Interest Expense 69,171 95,283 - 26,821 - 5,940 - 12,993 - -
Adjustments Gain(Loss) 375 2,287 - 5,944 - 342 - -40,038 - -
Pre-tax Profit 2,690,817 2,320,735 - 1,616,354 - 1,962,571 - 1,176,002 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 42.8 42.5 - 43.4 - 43.3 - 43.7 - -
Prog-Prod Expense / Revenue Total 37.4 37.8 - 39.7 - 39.2 - 40.6 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 14,091,704 14,504,025 2.93 14,684,844 1.25 14,783,114 0.67 14,732,068 -0.35 1.1
Total Staff Count 201.6 209.7 4.03 195.6 -6.74 191.2 -2.22 187.4 -2.01 -
Avg Remuneration ($) 69,896 69,156 -1.06 75,080 8.57 77,301 2.96 78,613 1.70 3.0
Avg Remuneration excl. Benefits ($) 63,272 62,479 -1.25 66,972 7.19 69,335 3.53 70,439 1.59 2.7

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 12.7 11.2 - 8.6 - 9.5 - 6.9 - -
P.B.I.T. Margin 9.0 7.7 - 5.3 - 6.4 - 4.2 - -
Pre-tax Margin 8.7 7.4 - 5.3 - 6.4 - 4.0 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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