Designated Markets - Radio AM - Winnipeg

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 3 3 - 3 - 3 - 3 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 11,170,999 10,821,657 -3.13 11,345,959 4.84 11,135,052 -1.86 8,933,705 -19.77 -5.4
National Time Sales 796,779 804,186 0.93 757,736 -5.78 1,037,598 36.93 923,776 -10.97 3.8
Syndication-Production 0 0 n/a 2,430 n/a 17,012 600.08 23,090 35.73 n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 770,763 502,386 -34.82 351,898 -29.95 306,190 -12.99 160,181 -47.69 -32.5
Total Revenue 12,738,541 12,128,229 -4.79 12,458,023 2.72 12,495,852 0.30 10,040,752 -19.65 -5.8

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 5,035,626 4,682,916 -7.00 6,066,228 29.54 6,379,975 5.17 5,786,024 -9.31 3.5
Technical 319,003 298,483 -6.43 359,911 20.58 376,031 4.48 384,419 2.23 4.8
Sales and Promotion 2,722,983 2,681,174 -1.54 3,479,144 29.76 3,047,916 -12.39 1,620,704 -46.83 -12.2
Administration and General 1,997,985 1,622,487 -18.79 1,835,674 13.14 1,743,687 -5.01 1,515,972 -13.06 -6.7
Total Expenses 10,075,597 9,285,060 -7.85 11,740,957 26.45 11,547,609 -1.65 9,307,119 -19.40 -2.0

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 2,662,944 2,843,169 - 717,066 - 948,243 - 733,633 - -
Depreciation 654,604 629,937 -3.77 607,247 -3.60 631,443 3.98 595,876 -5.63 -2.3
P.B.I.T. 2,008,340 2,213,232 - 109,819 - 316,800 - 137,757 - -
Interest Expense -5,420 64,787 - 60,670 - 58,201 - -34,167 - -
Adjustments Gain(Loss) 3,725,199 3,958,769 - 5,105,245 - 3,338,156 - 19,160,264 - -
Pre-tax Profit 5,738,959 6,107,214 - 5,154,394 - 3,596,755 - 19,332,188 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 50.0 50.4 - 51.7 - 55.2 - 62.2 - -
Prog-Prod Expense / Revenue Total 39.5 38.6 - 48.7 - 51.1 - 57.6 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 5,147,278 5,262,696 2.24 6,600,890 25.43 6,114,709 -7.37 4,595,016 -24.85 -2.8
Total Staff Count 89.8 85.7 -4.55 94.1 9.76 80.8 -14.12 64.4 -20.36 -
Avg Remuneration ($) 57,313 61,394 7.12 70,155 14.27 75,677 7.87 71,407 -5.64 5.7
Avg Remuneration excl. Benefits ($) 49,264 52,733 7.04 63,909 21.19 67,426 5.50 62,521 -7.27 6.1

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 20.9 23.4 - 5.8 - 7.6 - 7.3 - -
P.B.I.T. Margin 15.8 18.2 - 0.9 - 2.5 - 1.4 - -
Pre-tax Margin 45.1 50.4 - 41.4 - 28.8 - 192.5 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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