Designated Markets - Radio AM / FM - Sudbury

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 7,675,109 8,075,177 5.21 7,999,148 -0.94 7,660,147 -4.24 7,284,690 -4.90 -1.3
National Time Sales 2,261,787 2,379,152 5.19 2,406,175 1.14 2,612,743 8.58 2,848,240 9.01 5.9
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 7,126 5,553 -22.07 0 n/a 0 n/a 14,283 n/a 19.0
Total Revenue 9,944,022 10,459,882 5.19 10,405,323 -0.52 10,272,890 -1.27 10,147,213 -1.22 0.5

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 2,693,777 2,855,728 6.01 2,886,085 1.06 2,749,552 -4.73 2,654,962 -3.44 -0.4
Technical 495,217 553,404 11.75 565,527 2.19 392,821 -30.54 406,160 3.40 -4.8
Sales and Promotion 2,743,873 2,682,714 -2.23 2,754,837 2.69 2,621,594 -4.84 2,645,550 0.91 -0.9
Administration and General 2,624,639 2,627,949 0.13 3,119,331 18.70 3,305,042 5.95 2,943,290 -10.95 2.9
Total Expenses 8,557,506 8,719,795 1.90 9,325,780 6.95 9,069,009 -2.75 8,649,962 -4.62 0.3

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 1,386,516 1,740,087 - 1,079,543 - 1,203,881 - 1,497,251 - -
Depreciation 316,440 342,395 8.20 332,445 -2.91 326,466 -1.80 321,113 -1.64 0.4
P.B.I.T. 1,070,076 1,397,692 - 747,098 - 877,415 - 1,176,138 - -
Interest Expense 160,185 112,822 - 173,131 - 170,784 - 129,784 - -
Adjustments Gain(Loss) 3,511 24,432 - 41,693 - -66,506 - 102,969 - -
Pre-tax Profit 913,402 1,309,302 - 615,660 - 640,125 - 1,149,323 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 31.5 32.7 - 30.9 - 30.3 - 30.7 - -
Prog-Prod Expense / Revenue Total 27.1 27.3 - 27.7 - 26.8 - 26.2 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 4,785,765 4,949,855 3.43 5,152,271 4.09 4,873,330 -5.41 4,700,566 -3.55 -0.5
Total Staff Count 81.8 85.5 4.44 84.0 -1.73 75.3 -10.38 78.4 4.23 -
Avg Remuneration ($) 58,491 57,927 -0.97 61,358 5.92 64,762 5.55 59,933 -7.46 0.6
Avg Remuneration excl. Benefits ($) 50,783 49,887 -1.77 53,815 7.87 57,958 7.70 53,548 -7.61 1.3

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 13.9 16.6 - 10.4 - 11.7 - 14.8 - -
P.B.I.T. Margin 10.8 13.4 - 7.2 - 8.5 - 11.6 - -
Pre-tax Margin 9.2 12.5 - 5.9 - 6.2 - 11.3 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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