Non-designated Markets - Radio AM - Saskatchewan

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 11 11 - 11 - 11 - 11 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 12,982,507 12,608,633 -2.88 12,058,175 -4.37 10,952,062 -9.17 11,299,597 3.17 -3.4
National Time Sales 3,969,503 4,386,465 10.50 3,844,339 -12.36 3,460,883 -9.97 3,432,000 -0.83 -3.6
Syndication-Production -33,937 4,763 -114.03 32,988 592.59 63,253 91.75 87,129 37.75 n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 131,106 133,281 1.66 129,478 -2.85 73,633 -43.13 72,146 -2.02 -13.9
Total Revenue 17,049,179 17,133,142 0.49 16,064,980 -6.23 14,549,831 -9.43 14,890,872 2.34 -3.3

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 4,847,430 4,877,130 0.61 5,034,279 3.22 4,188,118 -16.81 3,646,986 -12.92 -6.9
Technical 511,425 507,257 -0.81 488,133 -3.77 501,821 2.80 499,687 -0.43 -0.6
Sales and Promotion 4,487,725 4,452,575 -0.78 4,230,852 -4.98 3,791,960 -10.37 3,828,418 0.96 -3.9
Administration and General 5,039,552 4,872,728 -3.31 4,993,050 2.47 4,652,392 -6.82 4,671,892 0.42 -1.9
Total Expenses 14,886,132 14,709,690 -1.19 14,746,314 0.25 13,134,291 -10.93 12,646,983 -3.71 -4.0

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 2,163,047 2,423,452 - 1,318,666 - 1,415,540 - 2,243,889 - -
Depreciation 347,006 431,498 24.35 415,089 -3.80 561,516 35.28 692,508 23.33 18.9
P.B.I.T. 1,816,041 1,991,954 - 903,577 - 854,024 - 1,551,381 - -
Interest Expense 42,981 33,406 - 29,270 - 416,107 - 679,483 - -
Adjustments Gain(Loss) 58,908 -593,270 - 128,321 - -371,606 - -414,247 - -
Pre-tax Profit 1,831,968 1,365,278 - 1,002,628 - 66,311 - 457,651 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 32.6 33.2 - 34.1 - 31.9 - 28.8 - -
Prog-Prod Expense / Revenue Total 28.4 28.5 - 31.3 - 28.8 - 24.5 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 7,280,550 7,280,313 0.00 7,394,720 1.57 7,057,744 -4.56 8,814,595 24.89 4.9
Total Staff Count 156.1 152.7 -2.22 159.5 4.49 177.3 11.13 141.2 -20.36 -
Avg Remuneration ($) 46,637 47,693 2.26 46,362 -2.79 39,818 -14.11 62,440 56.81 7.6
Avg Remuneration excl. Benefits ($) 43,061 43,983 2.14 41,778 -5.01 36,098 -13.60 57,515 59.33 7.5

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 12.7 14.1 - 8.2 - 9.7 - 15.1 - -
P.B.I.T. Margin 10.7 11.6 - 5.6 - 5.9 - 10.4 - -
Pre-tax Margin 10.7 8.0 - 6.2 - 0.5 - 3.1 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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