Non-designated Markets - Radio AM - New Brunswick

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 4 4 - 4 - 4 - 4 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 1,909,039 2,035,526 6.63 1,942,457 -4.57 1,937,590 -0.25 1,840,279 -5.02 -0.9
National Time Sales 359,811 414,115 15.09 464,713 12.22 437,523 -5.85 398,517 -8.92 2.6
Syndication-Production 250,029 14,409 -94.24 17,235 19.61 14,335 -16.83 14,349 0.10 -51.1
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 29,067 259 -99.11 0 n/a 1,093 n/a 3,719 240.26 -40.2
Total Revenue 2,547,946 2,464,309 -3.28 2,424,405 -1.62 2,390,541 -1.40 2,256,864 -5.59 -3.0

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 617,455 672,502 8.92 605,901 -9.90 575,576 -5.00 517,077 -10.16 -4.3
Technical 95,374 97,563 2.30 80,667 -17.32 59,582 -26.14 55,454 -6.93 -12.7
Sales and Promotion 600,617 576,476 -4.02 432,594 -24.96 406,126 -6.12 410,333 1.04 -9.1
Administration and General 726,975 677,309 -6.83 633,197 -6.51 547,557 -13.53 583,986 6.65 -5.3
Total Expenses 2,040,421 2,023,850 -0.81 1,752,359 -13.41 1,588,841 -9.33 1,566,850 -1.38 -6.4

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 507,525 440,459 - 672,046 - 801,700 - 690,014 - -
Depreciation 45,121 33,718 -25.27 80,191 137.83 57,437 -28.37 45,566 -20.67 0.3
P.B.I.T. 462,404 406,741 - 591,855 - 744,263 - 644,448 - -
Interest Expense 810 1,353 - 7,684 - 350 - 940 - -
Adjustments Gain(Loss) 201,746 -268,967 - 14,453 - 83,087 - -29,329 - -
Pre-tax Profit 663,340 136,421 - 598,624 - 827,000 - 614,179 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 30.3 33.2 - 34.6 - 36.2 - 33.0 - -
Prog-Prod Expense / Revenue Total 24.2 27.3 - 25.0 - 24.1 - 22.9 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 1,052,206 1,130,769 7.47 788,785 -30.24 712,097 -9.72 714,315 0.31 -9.2
Total Staff Count 25.3 21.8 -13.86 23.1 6.02 18.9 -18.08 19.5 3.23 -
Avg Remuneration ($) 41,672 51,989 24.76 34,206 -34.21 37,697 10.21 36,632 -2.83 -3.2
Avg Remuneration excl. Benefits ($) 30,124 46,112 53.07 31,488 -31.71 34,527 9.65 33,506 -2.96 2.7

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 19.9 17.9 - 27.7 - 33.5 - 30.6 - -
P.B.I.T. Margin 18.1 16.5 - 24.4 - 31.1 - 28.6 - -
Pre-tax Margin 26.0 5.5 - 24.7 - 34.6 - 27.2 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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