Non-designated Markets - British Columbia and Territories - Total

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 72 73 - 74 - 75 - 75 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 43,797,077 46,094,774 5.25 45,852,420 -0.53 45,349,621 -1.10 44,942,767 -0.90 0.7
National Time Sales 13,172,292 15,714,641 19.30 14,750,348 -6.14 14,490,671 -1.76 14,081,335 -2.82 1.7
Syndication-Production 96,395 65,399 -32.16 82,417 26.02 72,235 -12.35 358,239 395.94 38.8
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 505,282 155,701 -69.19 249,648 60.34 612,093 145.18 439,543 -28.19 -3.4
Total Revenue 57,571,046 62,030,515 7.75 60,934,833 -1.77 60,524,620 -0.67 59,821,884 -1.16 1.0

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 16,512,335 17,958,357 8.76 18,780,812 4.58 18,711,237 -0.37 17,937,626 -4.13 2.1
Technical 2,799,265 2,995,104 7.00 2,838,771 -5.22 3,212,187 13.15 2,855,114 -11.12 0.5
Sales and Promotion 15,653,219 16,315,965 4.23 15,824,269 -3.01 15,937,242 0.71 16,385,913 2.82 1.2
Administration and General 15,850,338 16,121,320 1.71 16,459,419 2.10 15,940,185 -3.15 15,600,556 -2.13 -0.4
Total Expenses 50,815,157 53,390,746 5.07 53,903,271 0.96 53,800,851 -0.19 52,779,209 -1.90 1.0

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 6,755,889 8,639,769 - 7,031,562 - 6,723,769 - 7,042,675 - -
Depreciation 1,696,659 1,643,332 -3.14 1,885,820 14.76 1,721,485 -8.71 1,755,840 2.00 0.9
P.B.I.T. 5,059,230 6,996,437 - 5,145,742 - 5,002,284 - 5,286,835 - -
Interest Expense 764,538 853,849 - 991,014 - 931,560 - 1,288,507 - -
Adjustments Gain(Loss) -2,513,965 -6,793,468 - -11,676,818 - -1,563,690 - -650,825 - -
Pre-tax Profit 1,780,727 -650,880 - -7,522,090 - 2,507,034 - 3,347,503 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 32.5 33.6 - 34.8 - 34.8 - 34.0 - -
Prog-Prod Expense / Revenue Total 28.7 29.0 - 30.8 - 30.9 - 30.0 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 30,242,097 31,209,863 3.20 30,544,129 -2.13 29,877,638 -2.18 29,297,942 -1.94 -0.8
Total Staff Count 568.5 590.9 3.94 573.4 -2.96 569.0 -0.77 573.6 0.82 -
Avg Remuneration ($) 53,195 52,815 -0.72 53,267 0.86 52,511 -1.42 51,076 -2.73 -1.0
Avg Remuneration excl. Benefits ($) 47,540 46,702 -1.76 47,450 1.60 47,361 -0.19 45,590 -3.74 -1.0

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 11.7 13.9 - 11.5 - 11.1 - 11.8 - -
P.B.I.T. Margin 8.8 11.3 - 8.4 - 8.3 - 8.8 - -
Pre-tax Margin 3.1 -1.0 - -12.3 - 4.1 - 5.6 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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