Non-designated Markets - New Brunswick - Total

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 15 17 - 18 - 18 - 18 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 12,264,283 11,924,381 -2.77 11,973,547 0.41 11,303,614 -5.60 11,462,758 1.41 -1.7
National Time Sales 2,718,172 3,283,773 20.81 3,376,169 2.81 3,327,564 -1.44 3,306,819 -0.62 5.0
Syndication-Production 390,948 127,904 -67.28 73,997 -42.15 52,208 -29.45 67,918 30.09 -35.4
Government/Corporate Grants 0 0 n/a 2,135 n/a 1,281 -40.00 4,313 236.69 n/a
Other Revenue 264,131 4,175 -98.42 36,232 767.83 62,408 72.25 80,168 28.46 -25.8
Total Revenue 15,637,534 15,340,233 -1.90 15,462,080 0.79 14,747,075 -4.62 14,921,976 1.19 -1.2

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 3,713,111 4,179,761 12.57 4,300,442 2.89 4,252,680 -1.11 3,856,422 -9.32 1.0
Technical 615,537 612,127 -0.55 533,274 -12.88 512,494 -3.90 559,818 9.23 -2.3
Sales and Promotion 3,655,402 3,770,306 3.14 3,882,672 2.98 3,792,792 -2.31 3,974,811 4.80 2.1
Administration and General 3,899,771 4,122,466 5.71 4,084,645 -0.92 3,831,528 -6.20 4,347,551 13.47 2.8
Total Expenses 11,883,821 12,684,660 6.74 12,801,033 0.92 12,389,494 -3.21 12,738,602 2.82 1.8

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 3,753,713 2,655,573 - 2,661,047 - 2,357,581 - 2,183,374 - -
Depreciation 744,778 310,925 -58.25 835,407 168.68 661,989 -20.76 529,705 -19.98 -8.2
P.B.I.T. 3,008,935 2,344,648 - 1,825,640 - 1,695,592 - 1,653,669 - -
Interest Expense 90,479 142,410 - 267,716 - 247,973 - 177,701 - -
Adjustments Gain(Loss) 349,972 -3,132,989 - -275,814 - -68,645 - -351,018 - -
Pre-tax Profit 3,268,428 -930,751 - 1,282,110 - 1,378,974 - 1,124,950 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 31.2 33.0 - 33.6 - 34.3 - 30.3 - -
Prog-Prod Expense / Revenue Total 23.7 27.2 - 27.8 - 28.8 - 25.8 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 6,410,658 7,373,017 15.01 6,990,524 -5.19 6,819,502 -2.45 6,697,557 -1.79 1.1
Total Staff Count 144.7 152.5 5.39 154.1 1.08 130.7 -15.17 131.7 0.76 -
Avg Remuneration ($) 44,318 48,364 9.13 45,367 -6.20 52,169 14.99 50,851 -2.53 3.5
Avg Remuneration excl. Benefits ($) 38,533 41,524 7.76 40,433 -2.63 46,086 13.98 44,966 -2.43 3.9

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 24.0 17.3 - 17.2 - 16.0 - 14.6 - -
P.B.I.T. Margin 19.2 15.3 - 11.8 - 11.5 - 11.1 - -
Pre-tax Margin 20.9 -6.1 - 8.3 - 9.4 - 7.5 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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