Designated Markets - Radio AM / FM - Timmins

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 5 4 - 4 - 4 - 4 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 2,146,854 2,297,430 7.01 2,200,954 -4.20 2,112,526 -4.02 1,881,465 -10.94 -3.3
National Time Sales 740,713 690,527 -6.78 839,803 21.62 1,069,740 27.38 1,193,611 11.58 12.7
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 7,598 1,745 -77.03 0 n/a 22,357 n/a 18,139 -18.87 24.3
Total Revenue 2,895,165 2,989,702 3.27 3,040,757 1.71 3,204,623 5.39 3,093,215 -3.48 1.7

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 653,802 686,750 5.04 811,670 18.19 803,743 -0.98 704,317 -12.37 1.9
Technical 312,485 241,673 -22.66 234,752 -2.86 134,774 -42.59 135,904 0.84 -18.8
Sales and Promotion 864,497 821,588 -4.96 762,220 -7.23 916,515 20.24 939,025 2.46 2.1
Administration and General 734,441 788,580 7.37 782,370 -0.79 901,675 15.25 708,661 -21.41 -0.9
Total Expenses 2,565,225 2,538,591 -1.04 2,591,012 2.06 2,756,707 6.39 2,487,907 -9.75 -0.8

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 329,940 451,111 - 449,745 - 447,916 - 605,308 - -
Depreciation 81,104 64,655 -20.28 68,048 5.25 65,184 -4.21 76,632 17.56 -1.4
P.B.I.T. 248,836 386,456 - 381,697 - 382,732 - 528,676 - -
Interest Expense 70,981 26,772 - 23,130 - 19,091 - 38,745 - -
Adjustments Gain(Loss) -131 420,505 - -209,519 - -34,538 - 71,390 - -
Pre-tax Profit 177,724 780,189 - 149,048 - 329,103 - 561,321 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 25.5 27.1 - 31.3 - 29.2 - 28.3 - -
Prog-Prod Expense / Revenue Total 22.6 23.0 - 26.7 - 25.1 - 22.8 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 1,493,346 1,527,236 2.27 1,585,679 3.83 1,556,416 -1.85 1,291,513 -17.02 -3.6
Total Staff Count 25.2 26.7 6.11 28.3 5.91 25.6 -9.50 29.2 14.01 -
Avg Remuneration ($) 59,283 57,136 -3.62 56,011 -1.97 60,750 8.46 44,215 -27.22 -7.1
Avg Remuneration excl. Benefits ($) 51,213 49,031 -4.26 49,506 0.97 54,981 11.06 40,661 -26.05 -5.6

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 11.4 15.1 - 14.8 - 14.0 - 19.6 - -
P.B.I.T. Margin 8.6 12.9 - 12.6 - 11.9 - 17.1 - -
Pre-tax Margin 6.1 26.1 - 4.9 - 10.3 - 18.1 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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