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Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 111 109 - 108 - 105 - 105 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 218,084,244 211,669,934 -2.94 200,222,782 -5.41 192,052,353 -4.08 185,571,066 -3.37 -4.0
National Time Sales 49,526,151 48,174,514 -2.73 56,180,439 16.62 60,363,125 7.45 65,692,000 8.83 7.3
Syndication-Production 734,611 248,325 -66.20 541,113 117.91 641,895 18.62 1,404,303 118.77 17.6
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 6,534,353 4,527,125 -30.72 4,321,598 -4.54 4,017,764 -7.03 2,809,320 -30.08 -19.0
Total Revenue 274,879,359 264,619,898 -3.73 261,265,932 -1.27 257,075,137 -1.60 255,476,689 -0.62 -1.8

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 106,430,632 106,425,290 -0.01 113,790,231 6.92 115,092,675 1.14 119,759,760 4.06 3.0
Technical 9,868,474 9,813,139 -0.56 9,713,440 -1.02 9,025,130 -7.09 8,791,635 -2.59 -2.9
Sales and Promotion 62,804,802 60,874,088 -3.07 62,080,379 1.98 58,567,929 -5.66 53,872,667 -8.02 -3.8
Administration and General 58,170,184 58,473,007 0.52 58,899,106 0.73 53,911,249 -8.47 53,673,600 -0.44 -2.0
Total Expenses 237,274,092 235,585,524 -0.71 244,483,156 3.78 236,596,983 -3.23 236,097,662 -0.21 -0.1

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 37,605,267 29,034,374 - 16,782,776 - 20,478,154 - 19,379,027 - -
Depreciation 7,293,582 7,128,367 -2.27 7,782,433 9.18 7,196,424 -7.53 8,045,761 11.80 2.5
P.B.I.T. 30,311,685 21,906,007   9,000,343   13,281,730   11,333,266    
Interest Expense 1,467,665 1,427,813 - 1,767,640 - 2,437,638 - 2,032,935 - -
Adjustments Gain(Loss) 14,256,266 1,497,751 - 19,581,218 - 5,660,679 - 84,467,721 - -
Pre-tax Profit 43,100,286 21,975,945   26,813,921   16,504,771   93,768,052    

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 44.9 45.2 - 46.5 - 48.6 - 50.7 - -
Prog-Prod Expense / Revenue Total 38.7 40.2 - 43.6 - 44.8 - 46.9 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 134,546,015 136,631,715 1.55 137,516,931 0.65 129,998,804 -5.47 124,970,418 -3.87 -1.8
Total Staff Count 1,968.6 1,918.1 -2.57 1,869.5 -2.53 1,770.5 -5.30 1,561.0 -11.83 -
Avg Remuneration ($) 68,346 71,233 4.22 73,557 3.26 73,424 -0.18 80,058 9.04 4.0
Avg Remuneration excl. Benefits ($) 60,514 63,249 4.52 66,055 4.44 65,818 -0.36 72,104 9.55 4.5

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 13.7 11.0 - 6.4 - 8.0 - 7.6 - -
P.B.I.T. Margin 11.0 8.3 - 3.4 - 5.2 - 4.4 - -
Pre-tax Margin 15.7 8.3 - 10.3 - 6.4 - 36.7 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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