Designated Markets - Radio AM / FM - Victoria

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 6 6 - 6 - 6 - 6 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 11,411,688 11,069,092 -3.00 10,577,786 -4.44 10,522,637 -0.52 10,228,423 -2.80 -2.7
National Time Sales 5,957,523 6,316,154 6.02 5,701,921 -9.72 5,349,829 -6.17 5,433,976 1.57 -2.3
Syndication-Production 0 0 n/a 0 n/a 0 n/a 41,909 n/a n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 56,506 66,830 18.27 53,744 -19.58 33,265 -38.10 2,313 -93.05 -55.0
Total Revenue 17,425,717 17,452,076 0.15 16,333,451 -6.41 15,905,731 -2.62 15,706,621 -1.25 -2.6

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 5,235,354 5,603,754 7.04 5,676,602 1.30 5,508,394 -2.96 5,489,971 -0.33 1.2
Technical 611,902 622,759 1.77 708,663 13.79 732,101 3.31 745,161 1.78 5.1
Sales and Promotion 4,697,433 4,171,527 -11.20 4,363,840 4.61 4,455,272 2.10 4,310,350 -3.25 -2.1
Administration and General 4,020,343 3,567,040 -11.28 3,858,845 8.18 3,364,679 -12.81 3,140,892 -6.65 -6.0
Total Expenses 14,565,032 13,965,080 -4.12 14,607,950 4.60 14,060,446 -3.75 13,686,374 -2.66 -1.5

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 2,860,685 3,486,996 - 1,725,501 - 1,845,285 - 2,020,247 - -
Depreciation 483,310 466,017 -3.58 516,880 10.91 499,803 -3.30 514,427 2.93 1.6
P.B.I.T. 2,377,375 3,020,979 - 1,208,621 - 1,345,482 - 1,505,820 - -
Interest Expense 20,849 7,235 - 11,344 - -281 - 0 - -
Adjustments Gain(Loss) -532,042 -2,237,667 - -498,074 - -825,893 - -674,816 - -
Pre-tax Profit 1,824,484 776,077 - 699,203 - 519,870 - 831,004 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 35.9 40.1 - 38.9 - 39.2 - 40.1 - -
Prog-Prod Expense / Revenue Total 30.0 32.1 - 34.8 - 34.6 - 35.0 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 7,920,944 7,540,653 -4.80 7,912,692 4.93 7,831,278 -1.03 7,882,050 0.65 -0.1
Total Staff Count 102.8 106.4 3.50 98.5 -7.41 97.5 -1.02 95.3 -2.24 -
Avg Remuneration ($) 77,059 70,877 -8.02 80,324 13.33 80,313 -0.01 82,682 2.95 1.8
Avg Remuneration excl. Benefits ($) 69,135 63,211 -8.57 72,341 14.44 72,300 -0.06 74,865 3.55 2.0

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 16.4 20.0 - 10.6 - 11.6 - 12.9 - -
P.B.I.T. Margin 13.6 17.3 - 7.4 - 8.5 - 9.6 - -
Pre-tax Margin 10.5 4.4 - 4.3 - 3.3 - 5.3 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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