Non-designated Markets - Saskatchewan - Total

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 28 30 - 30 - 30 - 30 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 26,633,865 27,089,780 1.71 26,439,866 -2.40 25,255,597 -4.48 24,626,534 -2.49 -1.9
National Time Sales 6,504,227 7,686,059 18.17 7,176,327 -6.63 6,519,777 -9.15 6,630,329 1.70 0.5
Syndication-Production -55,982 2,727 -104.87 32,988 n/a 105,014 218.34 172,822 64.57 n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 188,971 214,041 13.27 227,121 6.11 121,559 -46.48 94,182 -22.52 -16.0
Total Revenue 33,271,081 34,992,607 5.17 33,876,302 -3.19 32,001,947 -5.53 31,523,867 -1.49 -1.3

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 9,169,414 9,185,328 0.17 9,453,720 2.92 8,056,770 -14.78 7,097,923 -11.90 -6.2
Technical 1,165,841 1,332,748 14.32 1,323,048 -0.73 1,341,632 1.40 1,278,144 -4.73 2.3
Sales and Promotion 8,550,393 8,680,029 1.52 8,441,244 -2.75 7,674,878 -9.08 7,730,556 0.73 -2.5
Administration and General 8,922,410 9,116,136 2.17 9,868,934 8.26 9,422,546 -4.52 9,304,612 -1.25 1.1
Total Expenses 27,808,058 28,314,241 1.82 29,086,946 2.73 26,495,826 -8.91 25,411,235 -4.09 -2.2

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 5,463,023 6,678,366 - 4,789,356 - 5,506,121 - 6,112,632 - -
Depreciation 1,106,852 1,326,848 19.88 1,325,363 -0.11 1,210,207 -8.69 1,566,446 29.44 9.1
P.B.I.T. 4,356,171 5,351,518 - 3,463,993 - 4,295,914 - 4,546,186 - -
Interest Expense 58,756 49,670 - 48,503 - 1,103,871 - 1,817,932 - -
Adjustments Gain(Loss) 152,373 -1,538,737 - 154,399 - -1,218,554 - -1,428,039 - -
Pre-tax Profit 4,449,788 3,763,111 - 3,569,889 - 1,973,489 - 1,300,215 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 33.0 32.4 - 32.5 - 30.4 - 27.9 - -
Prog-Prod Expense / Revenue Total 27.6 26.2 - 27.9 - 25.2 - 22.5 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 13,322,421 13,897,799 4.32 13,882,565 -0.11 13,353,931 -3.81 16,670,490 24.84 5.8
Total Staff Count 294.2 313.7 6.62 315.4 0.54 362.7 15.00 272.6 -24.85 -
Avg Remuneration ($) 45,284 44,304 -2.16 44,017 -0.65 36,817 -16.36 61,163 66.13 7.8
Avg Remuneration excl. Benefits ($) 41,605 40,676 -2.23 39,363 -3.23 33,420 -15.10 56,605 69.37 8.0

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 16.4 19.1 - 14.1 - 17.2 - 19.4 - -
P.B.I.T. Margin 13.1 15.3 - 10.2 - 13.4 - 14.4 - -
Pre-tax Margin 13.4 10.8 - 10.5 - 6.2 - 4.1 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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