Designated Markets - Radio AM - Toronto

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 13 13 - 13 - 13 - 13 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 65,211,762 64,353,916 -1.32 58,648,290 -8.87 56,385,707 -3.86 57,721,789 2.37 -3.0
National Time Sales 13,186,810 14,335,686 8.71 20,378,203 42.15 24,869,140 22.04 28,723,101 15.50 21.5
Syndication-Production 527,703 324,561 -38.50 298,157 -8.14 363,182 21.81 576,962 58.86 2.3
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 2,333,157 1,771,471 -24.07 938,715 -47.01 1,225,021 30.50 1,186,267 -3.16 -15.6
Total Revenue 81,259,432 80,785,634 -0.58 80,263,365 -0.65 82,843,050 3.21 88,208,119 6.48 2.1

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 30,503,267 32,475,241 6.46 35,513,352 9.36 36,383,853 2.45 40,458,887 11.20 7.3
Technical 3,006,623 3,320,548 10.44 2,741,628 -17.43 2,609,810 -4.81 2,713,573 3.98 -2.5
Sales and Promotion 13,352,376 12,650,882 -5.25 11,811,041 -6.64 12,158,182 2.94 12,451,666 2.41 -1.7
Administration and General 15,863,247 15,006,183 -5.40 17,065,513 13.72 15,481,684 -9.28 15,524,123 0.27 -0.5
Total Expenses 62,725,513 63,452,854 1.16 67,131,534 5.80 66,633,529 -0.74 71,148,249 6.78 3.2

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 18,533,919 17,332,780 - 13,131,831 - 16,209,521 - 17,059,870 - -
Depreciation 1,346,005 1,581,524 17.50 1,352,714 -14.47 1,344,501 -0.61 1,602,007 19.15 4.5
P.B.I.T. 17,187,914 15,751,256 - 11,779,117 - 14,865,020 - 15,457,863 - -
Interest Expense 270,478 84,977 - 158,204 - 38,958 - -32,602 - -
Adjustments Gain(Loss) 1,118,568 -1,488,033 - 3,668,473 - -3,987,275 - 15,208,664 - -
Pre-tax Profit 18,036,004 14,178,246 - 15,289,386 - 10,838,787 - 30,699,129 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 48.6 51.2 - 52.9 - 54.6 - 56.9 - -
Prog-Prod Expense / Revenue Total 37.5 40.2 - 44.2 - 43.9 - 45.9 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 33,108,643 34,539,250 4.32 33,428,664 -3.22 32,923,196 -1.51 31,843,322 -3.28 -1.0
Total Staff Count 538.2 526.2 -2.23 493.4 -6.24 470.1 -4.72 433.9 -7.70 -
Avg Remuneration ($) 61,517 65,637 6.70 67,750 3.22 70,028 3.36 73,385 4.79 4.5
Avg Remuneration excl. Benefits ($) 54,376 57,837 6.36 60,716 4.98 63,409 4.44 66,282 4.53 5.1

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 22.8 21.5 - 16.4 - 19.6 - 19.3 - -
P.B.I.T. Margin 21.2 19.5 - 14.7 - 17.9 - 17.5 - -
Pre-tax Margin 22.2 17.6 - 19.0 - 13.1 - 34.8 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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