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Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 546 556 - 568 - 580 - 587 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 887,161,327 887,022,233 -0.02 866,284,494 -2.34 850,822,234 -1.78 800,331,528 -5.93 -2.5
National Time Sales 401,468,123 425,606,216 6.01 438,656,008 3.07 445,916,878 1.66 446,815,560 0.20 2.7
Syndication-Production 2,784,702 2,375,350 -14.70 5,223,279 119.90 5,096,283 -2.43 6,680,701 31.09 24.5
Government/Corporate Grants 85,519 131,712 54.01 124,186 -5.71 140,342 13.01 112,999 -19.48 n/a
Other Revenue 20,728,839 12,898,200 -37.78 12,983,601 0.66 14,404,563 10.94 12,790,113 -11.21 -11.4
Total Revenue 1,312,228,510 1,328,033,711 1.20 1,323,271,568 -0.36 1,316,380,300 -0.52 1,266,730,901 -3.77 -0.9

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 369,390,884 381,409,594 3.25 383,158,561 0.46 384,127,430 0.25 367,141,686 -4.42 -0.2
Technical 46,596,934 46,312,114 -0.61 46,846,487 1.15 46,707,070 -0.30 46,157,409 -1.18 -0.2
Sales and Promotion 318,958,392 306,242,559 -3.99 308,579,533 0.76 311,455,564 0.93 297,750,608 -4.40 -1.7
Administration and General 253,337,387 256,037,360 1.07 262,991,857 2.72 253,592,533 -3.57 248,037,230 -2.19 -0.5
Total Expenses 988,283,597 990,001,627 0.17 1,001,576,438 1.17 995,882,597 -0.57 959,086,933 -3.69 -0.8

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 323,944,913 338,032,084 - 321,695,130 - 320,497,703 - 307,643,968 - -
Depreciation 35,680,080 34,903,912 -2.18 36,429,610 4.37 34,316,326 -5.80 34,589,540 0.80 -0.8
P.B.I.T. 288,264,833 303,128,172   285,265,520   286,181,377   273,054,428    
Interest Expense 8,413,679 9,982,134 - 13,600,963 - 17,110,022 - 17,538,997 - -
Adjustments Gain(Loss) 41,810,659 -51,336,325 - -17,799,377 - -13,670,449 - 83,022,854 - -
Pre-tax Profit 321,661,813 241,809,713   253,865,180   255,400,906   338,538,285    

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 37.4 38.5 - 38.3 - 38.6 - 38.3 - -
Prog-Prod Expense / Revenue Total 28.1 28.7 - 29.0 - 29.2 - 29.0 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 532,913,876 530,067,125 -0.53 525,352,374 -0.89 528,286,227 0.56 501,672,904 -5.04 -1.5
Total Staff Count 7,765.7 7,875.6 1.41 7,613.5 -3.33 7,373.5 -3.15 6,921.1 -6.13 -
Avg Remuneration ($) 68,624 67,305 -1.92 69,003 2.52 71,647 3.83 72,485 1.17 1.4
Avg Remuneration excl. Benefits ($) 58,529 59,874 2.30 62,174 3.84 65,045 4.62 65,451 0.63 2.8

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 24.7 25.5 - 24.3 - 24.3 - 24.3 - -
P.B.I.T. Margin 22.0 22.8 - 21.6 - 21.7 - 21.6 - -
Pre-tax Margin 24.5 18.2 - 19.2 - 19.4 - 26.7 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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