Non-designated Markets - Radio AM - British Columbia and Territories

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 12 12 - 12 - 12 - 12 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 5,032,357 5,249,478 4.31 5,202,764 -0.89 4,896,240 -5.89 4,928,854 0.67 -0.5
National Time Sales 1,387,010 1,502,166 8.30 1,441,054 -4.07 1,272,924 -11.67 1,185,103 -6.90 -3.9
Syndication-Production 4,860 66 -98.64 8,727 n/a 27 -99.69 12,612 n/a 26.9
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 52,162 5,000 -90.41 102,869 n/a 42,699 -58.49 56,817 33.06 2.2
Total Revenue 6,476,389 6,756,710 4.33 6,755,414 -0.02 6,211,890 -8.05 6,183,386 -0.46 -1.2

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 2,050,709 2,208,528 7.70 2,412,500 9.24 2,494,532 3.40 2,532,614 1.53 5.4
Technical 357,608 359,200 0.45 332,440 -7.45 407,307 22.52 469,821 15.35 7.1
Sales and Promotion 1,418,370 1,534,970 8.22 1,524,680 -0.67 1,498,481 -1.72 1,790,482 19.49 6.0
Administration and General 2,235,816 2,155,308 -3.60 2,098,314 -2.64 2,508,438 19.55 2,487,097 -0.85 2.7
Total Expenses 6,062,503 6,258,006 3.22 6,367,934 1.76 6,908,758 8.49 7,280,014 5.37 4.7

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 413,886 498,704 - 387,480 - -696,868 - -1,096,628 - -
Depreciation 237,843 213,784 -10.12 250,661 17.25 235,211 -6.16 225,190 -4.26 -1.4
P.B.I.T. 176,043 284,920 - 136,819 - -932,079 - -1,321,818 - -
Interest Expense 74,145 103,614 - 118,924 - 106,355 - 140,599 - -
Adjustments Gain(Loss) -177,481 -846,065 - -1,414,814 - 49,024 - 74,144 - -
Pre-tax Profit -75,583 -664,759 - -1,396,919 - -989,410 - -1,388,273 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 33.8 35.3 - 37.9 - 36.1 - 34.8 - -
Prog-Prod Expense / Revenue Total 31.7 32.7 - 35.7 - 40.2 - 41.0 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 3,629,542 3,628,998 -0.01 3,830,934 5.56 3,838,444 0.20 3,782,887 -1.45 1.0
Total Staff Count 67.6 72.8 7.74 71.7 -1.57 69.0 -3.68 71.9 4.25 -
Avg Remuneration ($) 53,723 49,856 -7.20 53,467 7.24 55,622 4.03 52,584 -5.46 -0.5
Avg Remuneration excl. Benefits ($) 47,382 42,622 -10.05 45,445 6.62 48,208 6.08 45,285 -6.06 -1.1

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 6.4 7.4 - 5.7 - -11.2 - -17.7 - -
P.B.I.T. Margin 2.7 4.2 - 2.0 - -15.0 - -21.4 - -
Pre-tax Margin -1.2 -9.8 - -20.7 - -15.9 - -22.5 - -

CAGR = Compound Annual Growth Rate

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

Var = Variation

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