Non-designated Markets - Ontario - Total

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 103 104 - 106 - 110 - 114 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 86,679,439 87,380,473 0.81 88,529,825 1.32 88,453,221 -0.09 86,642,624 -2.05 0.0
National Time Sales 14,508,970 16,329,889 12.55 18,998,424 16.34 19,697,839 3.68 22,380,556 13.62 11.4
Syndication-Production 53,458 23,906 -55.28 84,525 253.57 59,815 -29.23 92,743 55.05 14.8
Government/Corporate Grants 721 0 n/a 0 n/a 0 n/a 9,736 n/a n/a
Other Revenue 625,888 622,312 -0.57 761,302 22.33 1,043,867 37.12 1,153,753 10.53 16.5
Total Revenue 101,868,476 104,356,580 2.44 108,374,076 3.85 109,254,742 0.81 110,279,412 0.94 2.0

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 31,224,286 31,110,090 -0.37 30,617,302 -1.58 31,231,370 2.01 31,101,128 -0.42 -0.1
Technical 5,134,534 5,462,859 6.39 5,803,938 6.24 5,772,655 -0.54 5,944,964 2.98 3.7
Sales and Promotion 28,208,645 28,007,907 -0.71 28,681,349 2.40 29,606,489 3.23 28,354,996 -4.23 0.1
Administration and General 23,973,925 23,921,067 -0.22 23,795,127 -0.53 24,964,381 4.91 24,248,846 -2.87 0.3
Total Expenses 88,541,390 88,501,923 -0.04 88,897,716 0.45 91,574,895 3.01 89,649,934 -2.10 0.3

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 13,327,086 15,854,657 - 19,476,360 - 17,679,847 - 20,629,478 - -
Depreciation 4,051,862 3,636,058 -10.26 4,031,905 10.89 3,697,917 -8.28 3,797,252 2.69 -1.6
P.B.I.T. 9,275,224 12,218,599 - 15,444,455 - 13,981,930 - 16,832,226 - -
Interest Expense 909,026 831,331 - 791,549 - 802,043 - 1,068,517 - -
Adjustments Gain(Loss) 285,762 8,662,470 - -6,175,873 - -1,701,734 - 94,046 - -
Pre-tax Profit 8,651,960 20,049,738 - 8,477,033 - 11,478,153 - 15,857,755 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 35.3 35.2 - 34.4 - 34.1 - 34.7 - -
Prog-Prod Expense / Revenue Total 30.7 29.8 - 28.3 - 28.6 - 28.2 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 52,137,870 52,587,867 0.86 52,466,875 -0.23 54,963,080 4.76 51,841,208 -5.68 -0.1
Total Staff Count 1,019.9 1,073.0 5.20 1,002.9 -6.54 989.6 -1.32 949.6 -4.04 -
Avg Remuneration ($) 51,121 49,011 -4.13 52,317 6.75 55,542 6.16 54,594 -1.71 1.7
Avg Remuneration excl. Benefits ($) 25,890 44,017 70.02 46,936 6.63 49,898 6.31 48,947 -1.91 17.3

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 13.1 15.2 - 18.0 - 16.2 - 18.7 - -
P.B.I.T. Margin 9.1 11.7 - 14.3 - 12.8 - 15.3 - -
Pre-tax Margin 8.5 19.2 - 7.8 - 10.5 - 14.4 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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