Non-designated Markets - Radio FM - Saskatchewan

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 17 19 - 19 - 19 - 19 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 13,651,358 14,481,147 6.08 14,381,691 -0.69 14,303,535 -0.54 13,326,937 -6.83 -0.6
National Time Sales 2,534,724 3,299,594 30.18 3,331,988 0.98 3,058,894 -8.20 3,198,329 4.56 6.0
Syndication-Production -22,045 -2,036 -90.76 0 n/a 41,761 n/a 85,693 105.20 n/a
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 57,865 80,760 39.57 97,643 20.91 47,926 -50.92 22,036 -54.02 -21.4
Total Revenue 16,221,902 17,859,465 10.09 17,811,322 -0.27 17,452,116 -2.02 16,632,995 -4.69 0.6

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 4,321,984 4,308,198 -0.32 4,419,441 2.58 3,868,652 -12.46 3,450,937 -10.80 -5.5
Technical 654,416 825,491 26.14 834,915 1.14 839,811 0.59 778,457 -7.31 4.4
Sales and Promotion 4,062,668 4,227,454 4.06 4,210,392 -0.40 3,882,918 -7.78 3,902,138 0.49 -1.0
Administration and General 3,882,858 4,243,408 9.29 4,875,884 14.90 4,770,154 -2.17 4,632,720 -2.88 4.5
Total Expenses 12,921,926 13,604,551 5.28 14,340,632 5.41 13,361,535 -6.83 12,764,252 -4.47 -0.3

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 3,299,976 4,254,914 - 3,470,690 - 4,090,581 - 3,868,743 - -
Depreciation 759,846 895,350 17.83 910,274 1.67 648,691 -28.74 873,938 34.72 3.6
P.B.I.T. 2,540,130 3,359,564 - 2,560,416 - 3,441,890 - 2,994,805 - -
Interest Expense 15,775 16,264 - 19,233 - 687,764 - 1,138,449 - -
Adjustments Gain(Loss) 93,465 -945,467 - 26,078 - -846,948 - -1,013,792 - -
Pre-tax Profit 2,617,820 2,397,833 - 2,567,261 - 1,907,178 - 842,564 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 33.4 31.7 - 30.8 - 29.0 - 27.0 - -
Prog-Prod Expense / Revenue Total 26.6 24.1 - 24.8 - 22.2 - 20.7 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 6,041,871 6,617,486 9.53 6,487,845 -1.96 6,296,187 -2.95 7,855,895 24.77 6.8
Total Staff Count 138.1 161.0 16.62 155.9 -3.20 185.5 18.97 131.4 -29.15 -
Avg Remuneration ($) 43,753 41,092 -6.08 41,618 1.28 33,949 -18.43 59,791 76.12 8.1
Avg Remuneration excl. Benefits ($) 39,959 37,542 -6.05 36,893 -1.73 30,861 -16.35 55,627 80.25 8.6

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 20.3 23.8 - 19.5 - 23.4 - 23.3 - -
P.B.I.T. Margin 15.7 18.8 - 14.4 - 19.7 - 18.0 - -
Pre-tax Margin 16.1 13.4 - 14.4 - 10.9 - 5.1 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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