Radio AM - Canada - Ethnic

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 12 12 - 12 - 12 - 12 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 21,230,484 21,172,728 -0.27 21,175,312 0.01 21,097,856 -0.37 20,922,328 -0.83 -0.4
National Time Sales 1,653,376 1,402,061 -15.20 1,427,526 1.82 1,388,357 -2.74 1,236,444 -10.94 -7.0
Syndication-Production 323,179 376,439 16.48 369,109 -1.95 411,337 11.44 501,976 22.04 11.6
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 1,966,383 2,188,356 11.29 1,680,127 -23.22 1,970,730 17.30 2,160,724 9.64 2.4
Total Revenue 25,173,422 25,139,584 -0.13 24,652,074 -1.94 24,868,280 0.88 24,821,472 -0.19 -0.4

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 8,390,838 8,777,575 4.61 8,680,068 -1.11 9,002,489 3.71 9,322,981 3.56 2.7
Technical 1,897,182 1,923,555 1.39 1,855,434 -3.54 1,718,619 -7.37 1,705,269 -0.78 -2.6
Sales and Promotion 4,068,692 3,948,774 -2.95 3,349,419 -15.18 3,651,220 9.01 3,300,455 -9.61 -5.1
Administration and General 8,105,459 6,872,812 -15.21 6,423,431 -6.54 6,061,791 -5.63 5,815,776 -4.06 -8.0
Total Expenses 22,462,171 21,522,716 -4.18 20,308,352 -5.64 20,434,119 0.62 20,144,481 -1.42 -2.7

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 2,711,251 3,616,868 - 4,343,722 - 4,434,161 - 4,676,991 - -
Depreciation 607,908 567,411 -6.66 612,959 8.03 663,948 8.32 826,036 24.41 8.0
P.B.I.T. 2,103,343 3,049,457   3,730,763   3,770,213   3,850,955    
Interest Expense 145,014 211,801 - 176,415 - 137,330 - 151,394 - -
Adjustments Gain(Loss) 223,891 90,335 - 150,762 - 330,494 - 240,394 - -
Pre-tax Profit 2,182,220 2,927,991   3,705,110   3,963,377   3,939,955    

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 37.4 40.8 - 42.7 - 44.1 - 46.3 - -
Prog-Prod Expense / Revenue Total 33.3 34.9 - 35.2 - 36.2 - 37.6 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 10,450,257 10,584,619 1.29 9,863,852 -6.81 9,744,657 -1.21 9,613,908 -1.34 -2.1
Total Staff Count 397.8 397.3 -0.13 394.8 -0.63 361.0 -8.55 369.6 2.37 -
Avg Remuneration ($) 26,273 26,645 1.41 24,988 -6.22 26,994 8.03 26,015 -3.62 -0.3
Avg Remuneration excl. Benefits ($) 24,481 24,798 1.30 22,357 -9.85 24,612 10.09 23,483 -4.59 -1.0

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 10.8 14.4 - 17.6 - 17.8 - 18.8 - -
P.B.I.T. Margin 8.4 12.1 - 15.1 - 15.2 - 15.5 - -
Pre-tax Margin 8.7 11.6 - 15.0 - 15.9 - 15.9 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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